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NSE Gets Board Nod To Launch IPO Via OFS

NSE Gets Board Nod To Launch IPO Via OFS:

As told the investors before that National Stock Exchange (NSE) is planning for its IPO and had appointed 4 investment bankers that is Citigroup, JM Financial, Kotak Mahindra Capital and Morgan Stanley.

Now in a latest update leading stock exchange NSE’s board has decided that the public issue will be in the form of an offer for sale by shareholders while the directors have approved issuance of bonus shares, stock split and a dividend payout for the existing investors.

NSE plans to get listed in India as well as abroad. It will file IPO papers with market regulator Sebi for the domestic public issue by January 2017 while the same will be done for overseas listing by April next year.

At its board meeting on October 4, NSE has decided that its IPO will be in the form of an offer for sale (OFS) of shares by the existing shareholders.

Besides, the board announced an interim dividend of Rs 79.50 per share of Rs 10 each for 2016-17.

The record date to determine the eligibility for payment of the interim dividend is fixed as October 17. The dividend will be paid by October 31.

Further, NSE’s board has decided to issue one bonus share of Rs 10 each for every 10 shares of Rs 10 each held by the shareholders.

The number of shares after the bonus issue will rise to 4.95 crore shares from the existing 4.50 crore.

The exchange’s closest competitor, BSE, has already filed draft prospectus with Sebi to float an IPO.

Market Update:

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Endurance Technologies IPO (Endurance Tech IPO) bidding has already start from October 05, 2016.

While Varun Beverages IPO tentative dates are October 18, 2016 – October 20, 2016. In between PNB Housing Finance IPO can also hit market in October month.

While lot of SME IPO’s are going to be active in current week.

Keep watching this blog to keep yourself updated with all the news.

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Endurance Technologies IPO (Endurance Tech IPO) Grey Market Premium (GMP) is between Rs 70 – Rs 72 per equity share. While  Varun Beverages IPO Grey Market Premium (GMP) is between Rs 35 – Rs 38 per equity share.

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