NSE likely to price IPO at 1,700-1,785 Indian rupees per share, source says

Business Recorder reported, citing a source, that the National Stock Exchange of India is likely to set the price of its initial public offering between 1,700 and 1,785 Indian rupees per share. The source declined to be named because they lack authority to speak publicly, and NSE had not yet answered a Reuters request for comment. Bloomberg News had already flagged that range earlier that day.

At the top of that band, NSE would be worth 4.4 trillion rupees, or $46.41 billion, which would place it among the largest companies in India by market value. The offering could also be one of the biggest in the country's history, placing it alongside Mukesh Ambani's Jio Platforms. The exchange holds a dominant share of equity derivatives trading in India and is the most active derivatives venue globally by number of contracts.

Earlier, Reuters had said the exchange wants to list during the week beginning September 21. Bloomberg News, quoting sources, reported that NSE could scale back the stake on offer to roughly 5.5% of its equity, down from an earlier target of 6%. Reuters was unable to verify this straight away.