News: National Stock Exchange of India $2.5 billion IPO Temasek as the main seller | Lianhe Zaobao

According to informed sources, Temasek Holdings and Life Insurance Corporation of India Ltd. are likely to become the main sellers in the potential $2.5 billion (approximately SGD 3.2 billion) initial public offering (IPO) of the National Stock Exchange of India Ltd. Bloomberg reported this news on Monday (February 2), citing an anonymous insider who revealed that State Bank of India Ltd. and SBI Capital Markets Ltd. may also participate as sellers in this IPO. The listing of the National Stock Exchange of India is expected to offer 4% to 4.5% equity, entirely sold by existing shareholders. Informed sources also pointed out that all 190,000 shareholders of the exchange will have the right to choose to participate in the secondary market allocation of the IPO. According to information from the National Stock Exchange of India website, Life Insurance Corporation of India and Temasek Holdings hold approximately 10.72% and 4.5% equity in the National Stock Exchange, respectively. SBI Capital holds about 4.5% equity in the National Stock Exchange, while State Bank of India holds approximately 3.2% equity. According to informed sources, the board of directors of the National Stock Exchange may establish a committee within a few days, consisting of executives and representatives of major shareholders, including Life Insurance Corporation of India and State Bank of India, to oversee the IPO process. The board plans to hold a meeting on February 6 to approve the quarterly performance up to December 2025 and may make a decision on the establishment of this committee