Temasek, CPPIB Among Investors Eyeing Stake Sale in NSE’s $2.75 Billion IPO
India’s National Stock Exchange of India (NSE) is set to witness a major stake dilution as global and domestic investors—including Temasek Holdings and Canada Pension Plan Investment Board—prepare to sell shares in its upcoming initial public offering (IPO). The share sale is expected to raise around $2.75 billion, based on an estimated $55 billion valuation derived from unlisted market trades. Overall, existing shareholders are likely to offload about a 5% stake, according to sources familiar with the matter.
The offering is poised to be one of India’s largest this year, alongside a potential listing by Reliance Jio Platforms, backed by billionaire Mukesh Ambani. Other prominent sellers in the NSE IPO are expected to include Life Insurance Corporation of India, State Bank of India, and private equity firm ChrysCapital. Despite queries, most stakeholders have either declined to comment or remained unresponsive.
The NSE, the world’s most active equity derivatives exchange, has long pursued a public listing since 2016 but faced delays due to regulatory disputes with the Securities and Exchange Board of India. With litigation nearing resolution through a likely monetary settlement, the exchange is expected to file its draft prospectus soon. Backed by 177,000+ shareholders, NSE’s IPO remains a complex but highly anticipated market event, supported by steady financial growth driven by strong derivatives trading performance.
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