Some of the biggest shareholders in the National Stock Exchange have decided they would rather sell less of their stock in the upcoming IPO.
What changed
Several investors have trimmed the number of shares they plan to offer because the expected IPO price is lower than some shareholders had hoped.
The proposed pricing
The offer is expected to be priced in a range of about ₹1,700 to ₹1,785 per share, according to people familiar with the plans cited by Reuters.
How much the IPO shrank
The planned offer-for-sale was reduced from roughly 6% of NSE’s equity to about 5.2%, with total shares offered falling from around 149 million to 126 million.
Why investors may prefer to hold
If shareholders believe the stock could rise after listing, selling fewer shares at the IPO stage lets them keep more exposure to that potential upside.
Why the pricing is under pressure
NSE’s business depends heavily on derivatives trading, and stricter regulation has weighed on options volumes. That has influenced how investors think about valuation.
Bottom line
The unusual twist is that a lower IPO price is not only affecting demand—it is convincing some existing owners that they may be better off holding on to more of their shares.
Source: Reuters
