NSE IPO Set to Deliver Massive Gains to State-Run Insurance Firms
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NSE IPO effect? This PSU stock hits 52-week high before paring gains | Check its NSE Stake, other key details
NSE's planned IPO is a significant catalyst for NIACL, which holds 1.42% in NSE and plans to sell shares in the IPO. The sale could unlock value for investors as excitement around the public issue builds.
NSE IPO set to deliver massive gains to state-run insurance firms
General Insurance Corp, National Insurance, New India, Oriental Insurance and United India were among the earliest investors in the exchange, which opened in 1994 and is India's biggest by trading volume. The proposed IPO, expected later this month, is entirely an offer for sale of up to 148.91 million shares, which would mean that NSE itself will not receive proceeds from the issue.
The National Stock Exchange's IPO is poised to be a lifeline for government-owned insurance companies. By selling 40 million shares at ₹1,800 per share, these companies could reap a whopping ₹7,200 crore.
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