The National Stock Exchange has fixed the price band for its initial public offering at ₹1,700 to ₹1,785 per share, India Infoline reports. The issue is scheduled to open on September 17.
The offering has been trimmed in size, a move Bloomberg linked to growing concern about valuations. VCCircle reported that the exchange is seeking a valuation of $46 billion through the reduced issue.
The Hindu put the total amount the NSE aims to raise at ₹22,569 crore. Moneycontrol reported that the exchange, responding to questions about a cash pile of ₹70,000 crore, said most of its free cash flow has been returned to shareholders.
The NSE is one of India's largest market infrastructure institutions, which is why the share sale has drawn attention from investors tracking the country's capital markets.
What to watch next: whether the issue is fully subscribed during its open window, and how the shares perform once they list.