IPO watch: Flipkart co-founder's Navi Tech, National Stock Exchange; key details
India Today
NSE MD and CEO Vikram Limaye said the IPO was aimed at offering liquidity to shareholders and not for raising money for capital requirements.
The Indian IPO markets have been abuzz with LIC's IPO. While investors are awaiting the launch of the LIC IPO, Flipkart co-founder Sachin Bansal's Navi Technologies is likely to come with its initial public offering. Meanwhile, investors may have to wait longer for the National Stock Exchange (NSE) IPO.
Navi Technologies is a digital fintech lender which offers loans for home, personal, microfinance and insurance.
The company helmed by the Flipkart co-founder is likely to file a Draft Red Herring Prospectus (DRHP) for its IPO with the aim of raising Rs 4,000 crore.
The IPO will be a fresh issue of shares as there won't be any offer-for-sale (OFS), according to a Times of India report.
NSE MD and CEO Vikram Limaye said the initial share sale was aimed at offering liquidity to shareholders and not for raising money for capital requirements, according to a moneycontrol report.
Limaye said that the market regulator the Securities and Exchange Board of India (Sebi) and the government are yet to provide any clarity on the timeframe of NSE IPO.
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