New Delhi : Ahead of its IPO, 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. The exchange has already formed a listing committee to expedite the process. It has roped in four merchant bankers — Citigroup, Morgan Stanley, JM Financial Institutional Securities and Kotak Mahindra Capital Company — to manage its upcoming initial public offer (IPO). 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.
