NSE files draft papers for India’s largest-ever IPO
The National Stock Exchange of India (NSE) has filed its draft red herring prospectus (DRHP) with SEBI for an initial public offering estimated at around ₹30,000 crore.[2][4] This IPO is expected to surpass the previous record set by Hyundai Motor India, making it the largest corporate market debut in India.[2] Existing shareholders, including state-owned lenders, Singapore’s GIC, and Canada’s CPP Investments, are likely to gain a combined windfall of about $2.6 billion from the offer for sale.[4] NSE itself will not issue fresh shares; instead, the issue will largely consist of a sale of stakes by current investors.[4] The listing is expected to improve transparency, governance standards, and public scrutiny of India’s largest stock exchange by trading volumes.[4] It may also deepen India’s capital markets by drawing more domestic and foreign investors.[4] The move comes amid strong primary market activity and broader regulatory efforts to strengthen market infrastructure.[4] Timelines for regulatory approval and the final issue size will depend on SEBI’s comments and market conditions.[4]
Try the question
Which institution is set to benefit from a major windfall due to NSE’s proposed IPO?
Answer: (b) Singapore’s GIC
The correct answer is (b) Singapore’s GIC.