NSE To File Draft Papers For IPO Next Week

New Delhi: The National Stock Exchange (NSE) is likely to file draft papers with Sebi next week for its much-awaited IPO, expected to be one of the biggest in recent times.

The initial public offer, which has been in the works for quite sometime, would see existing shareholders offloading shares through the OFS route.

Putting speculations to rest, NSE announced in June this year its plans to get listed and that IPO papers would be filed by January 2017.

An NSE official said the exchange is likely to submit the draft red herring prospectus (DRHP) for the IPO early next week.

NSE's initial public offer is being keenly awaited in the market as one of the biggest IPOs in recent times. Rival BSE is also in the process of launching its initial share sale.

Amid preparations for the share-sale, NSE saw the surprise exit of its Managing Director and CEO Chitra Ramkrishna earlier this month.

The exchange has already formed a listing committee to expedite the IPO process apart from roping in merchant bankers.

It has appointed Citigroup, Morgan Stanley, JM Financial Institutional Securities and Kotak Mahindra Capital Company to manage its upcoming IPO.

At its board meeting on October 4, NSE had decided that its IPO will be in the form of an offer for sale (OFS) of shares by the existing shareholders.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)