Economy · India
SEBI Approves NSE's Mega IPO, Boosting Financial Stocks
India's market regulator, SEBI, has granted approval for the National Stock Exchange (NSE) to proceed with its long-awaited Initial Public Offering (IPO). The IPO is expected to be one of the largest in Indian stock market history, potentially raising around ₹30,000 crore. Following the SEBI clearance, shares of financial institutions with indirect stakes in NSE, such as IFCI and New India Assurance, saw significant surges. IFCI's stock price jumped over 8% to a record high, while New India Assurance shares also experienced substantial gains, nearly doubling investors' money in five months. The NSE's listing is anticipated to occur around the week of September 21st or September 25th.
How outlets across the spectrum covered it
L 0 C 7 R 2
- Centre (7 votes, 8 outlets): Business Standard, Business Today, Jansatta · The Financial Express (Indian Express Group — 1 vote), Mint, The Economic Times, The Free Press Journal, The Hindu BusinessLine
- Right (2): Punjab Kesari, Times Now
- International (2): Bloomberg, Reuters