Valuation question! Why did NSE cut its IPO size and price below unlisted market levels?
NSE MD and CEO Ashish Chauhan said the exchange had invited shareholders to tender shares before filing the draft red herring prospectus. He said bankers advised the exchange on pricing, while the IPO size was based on the shares tendered by shareholders on the day of the updated draft red herring prospectus.
Valuation question! Why did NSE cut its IPO size and price below unlisted market levels?
What Happened
NSE MD and CEO Ashish Chauhan said the exchange had invited shareholders to tender shares before filing the draft red herring prospectus. He said bankers advised the exchange on pricing, while the IPO size was based on the shares tendered by shareholders on the day of the updated draft red herring prospectus.
Key Details
Original reporting provided by Economic Times Markets.
Why It Matters
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