NSE IPO countdown begins: SBI, IFCI, GIC Re, Bank of Baroda shares in focus after SEBI nod
The National Stock Exchange of India has received regulatory approval for a ₹30,000 crore IPO, which is expected to be the country's largest. Major shareholders including SBI, Bank of Baroda, and GIC Re are preparing to sell portions of their stakes in the offer-for-sale.
Why it matters
This IPO represents a significant liquidity event for major Indian financial institutions and a milestone for the Indian stock market.
SBI, the largest listed selling shareholder, plans to sell around 2.47 crore NSE shares, while NIACL and GIC Re are expected to offload nearly 1.05 crore and 1.1 crore shares, respectively. Shares of State Bank of India (SBI), New India Assurance (NIACL), Bank of Baroda, GIC Re and IFCI are likely to remain in focus on Monday, September 7, as SEBI has approved the National Stock Exchange’s (NSE) much-awaited IPO.
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The proposed ₹30,000 crore issue is entirely an offer-for-sale (OFS), allowing existing shareholders to monetise their holdings.
SBI, the largest listed selling shareholder, plans to sell around 2.47 crore NSE shares, while NIACL and GIC Re are expected to offload nearly 1.05 crore and 1.1 crore shares, respectively.
Bank of Baroda is also set to sell up to around 1.1 crore shares.
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