Story thread · 2 reports / 1 sources

IFCI shares rally over 16% in two days as NSE IPO draws closer

economictimes.indiatimes.com · 12dShare

Shares of IFCI climbed as much as 4% to Rs 101.60 on the BSE on Thursday, extending their rally into a second straight session and taking the stock’s two-day gains to more than 16% amid expectations that the long-awaited NSE IPO could be moving closer to launch.IFCI owns more than a 50% stake in Stock Holding Corporation of India (SHCIL), which, in turn, holds over 4% of NSE. Through its controlling interest in SHCIL, IFCI enjoys indirect exposure to NSE, making its stock particularly sensitive to developments related to the exchange’s IPO.NSE IPO soon?Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey has said the regulator is close to approving the draft red herring prospectus (DRHP) filed by the exchange for its IPO.Last month, a Bloomberg report said NSE is seeking a valuation of as much as Rs 5.26 lakh crore ($55 billion) in its planned IPO.The exchange filed its draft prospectus in June for an offering that will consist entirely of secondary share sales. Ex

First report: Want NSE shares before the IPO? Here’s how the unlisted market works — economictimes.indiatimes.com, 14d