Moneycontrol Bureau Shares of IFCI rose 15 percent while IDBI Bank gained 6 percent intraday on Thursday as NSE has filed Draft Red Herring Prospectus (DRHP) for its share sale. According to the DRHP, existing NSE shareholders may offer 20-25 percent shares for estimated Rs 10000 crore which has got investors existed.
Investors expect it to have a positive rub off on IFCI and IDBI Bank as both own around 3.1 percent and 1.5 percent stake in NSE respectively.
Touted to be one of the biggest IPO of India, investors are keenly awaiting for NSE public offer. The initial public offer would see sale of a little over 11 crore equity scrips, which is 22.5 percent of total shares outstanding by existing shareholders through offer for sale (OFS) route.
Of the total shares on offer, around 15.8 percent stake would be tendered by foreign shareholders, and 6.7 percent by domestic entities.
The offer may give the exchange a valuation of Rs 50,000-55,000 crore, sources said, adding that the IPO itself could be worth about Rs 10,000 crore.
Currently, MCX is the only listed exchange in the country, but it had come out with an IPO as a standalone commodity exchange much before the merger of Forward Markets Commission (FMC) with Sebi to create a unified capital markets regulator. Since then, all exchanges have become deemed stock exchanges.
At 12:43 hrs IFCI was quoting at Rs 28.10, up Rs 3.40, or 13.77 percent and IDBI Bank was quoting at Rs 69.10, up Rs 2.25, or 3.37 percent on the BSE.Posted by Nasrin Sultana(With inputs from PTI)
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