NSE Board Clears IPO Plan, Forms Committee Under Tablesh Pandey; Coal Exchange Subsidiary Approved

• NSE's governing board approved plans for an Initial Public Offering (IPO) and the incorporation of a coal exchange subsidiary.
• An IPO Committee, chaired by Tablesh Pandey, has been reconstituted to oversee the public issue process, including selecting merchant bankers and legal advisors.
• The proposed IPO will be an Offer For Sale (OFS) by existing shareholders, with an estimated size of around Rs 23,000 crore, selling approximately 4.5% of equity.
• NSE aims to file the Draft Red Herring Prospectus (DRHP) by end-March or early April, following regulatory approvals.
• The new coal exchange subsidiary, with NSE initially holding a minimum 60% stake, aims to bring transparency and efficiency to India's coal market.