NSE gets approval for an IPO

National Stock Exchange (NSE) on Thursday said that its board has given its nod for the Exchange to raise money through an initial public offering (IPO). 

It is likely to file the draft red herring prospectus by January 2017. 

Earlier, Chitra Ramkrishna, CEO of NSE on Business Standard said, The National Stock Exchange of India (NSE) will adhere to its plan of going public early next year so that it can give shareholders an opportunity to exit.”

Some shareholders which can plan to exit  are – State Bank of India and SBI Capitals which hold 10.19% and 4.33% stake, respectively as on July 2016.

Other shareholders are HDFC Group (0.66%), Stock Holding Corp (5%), IDBI (3%), IDFC Bank (2%) and MS Strategic (3%).