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IFCI surges over 10% as NSE files IPO papers with Sebi

The stock surged nearly 12% to Rs 27.50 on the NSE in early morning trade on back of heavy volumes

SI Reporter  |  Mumbai 

IFCI surged nearly 12% to Rs 27.50 on the National Stock Exchange (NSE) in early morning trade, after the India’s biggest bourse - the NSE - filed its draft prospectus for a Rs 10,000-crore Initial Public Offer (IPO) of equity with the Securities and Exchange Board of India (Sebi).

The NSE IPO will be an Offer for Sale (OFS), of 111.4 million equity shares, 22.5% of the exchange’s post offer paid-up equity capital. At an expected valuation of Rs 40,000-45,000 crore, the issue size could be Rs 9,000-10,125 crore, the highest since the Coal India IPO of Rs 15,000 crore in ...

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First Published: Thu, December 29 2016. 09:24 IST
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