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Securities and Exchange Board of India approval has been granted for the National Stock Exchange of India’s initial public offering.
The offering is valued at approximately $3.6 billion.
The listing is targeted for the week of September 21.
The deal is structured entirely as an offer-for-sale by existing shareholders.
Why it mattersA successful listing could finally unlock one of India’s biggest market debuts and set the tone for investor demand in a marquee exchange offering.
More context
Shareholders named in the analysis include the SBI Group.
The NSE is expected to list on the Bombay Stock Exchange because of regulatory rules.
The analysis also notes past regulatory hurdles tied to co-location services.
The estimated market valuation is about $55 billion.