NSE IPO expected to price at ₹1,700-1,800 per share amid OFS trim

The National Stock Exchange's long-awaited initial public offering is expected to be priced between ₹1,700 and ₹1,800 per share, according to market sources familiar with the listing plans. The valuation band comes as India's premier bourse prepares for what is expected to be a significant capital markets event this year.

The offer for sale (OFS) component of the IPO may be smaller than initially planned, with the shareholder divestment potentially capped at 5.25% of the company's equity. The reduction reflects a strategic decision by some shareholders to postpone selling portions of their stakes, betting on a stronger valuation once the stock begins trading publicly.

This cautious approach by existing shareholders underscores confidence in the NSE's long-term prospects while also reflecting the current market dynamics. The decision to trim the OFS preserves more equity for founders and early investors, who believe the post-listing trading price could exceed the IPO band.

The NSE has emerged as one of India's most profitable financial infrastructure operators, making the IPO a closely watched event for domestic and international investors seeking exposure to the country's capital markets growth. Details regarding the exact issue size and the final pricing band are expected to be announced in the coming weeks.