Temasek, LIC to be key sellers in NSE’s $2.5 billion IPO

Group 1: IPO Overview - Temasek Holdings and Life Insurance Corporation of India Ltd. are expected to be key sellers in the upcoming $2.5 billion IPO of the National Stock Exchange of India Ltd. [1] - The IPO will consist solely of existing shareholders offering between 4% and 4.5% of the company's equity, with all 190,000 shareholders given the option to participate [2] - The NSE's board plans to form a committee with top executives and major shareholder representatives to oversee the IPO process [4] Group 2: Shareholder Stakes - LIC holds a 10.72% stake in NSE, while Temasek and SBI Capital each hold approximately 4.5%, and SBI holds about 3.2% [3] - Shares of NSE are currently trading at around ₹2,150 in the unlisted market, indicating a valuation of approximately ₹5.3 lakh crore ($58 billion), making it the fourth-most valuable exchange globally [5] Group 3: IPO Process and Timeline - The committee's responsibilities will include appointing investment bankers, negotiating fees, determining share amounts for sale, and filing the draft prospectus, with a target timeline of about three months for filing [6] - NSE has received regulatory clearance to begin IPO preparations, nearly a decade after its initial filing in 2016, which was delayed due to corporate governance issues [8]