Taking ahead its agenda of making the bourse public, the NSE board has decided that the public issue will be through an offer for sale (OFS). The board also decided to issue bonus shares, split the stock and offer dividend to the existing investors.
NSE is planning a listing in India as well as abroad. In its board meeting held on June 23, the board of directors of the exchange — subject to shareholders’ approval — expressed desire to file the draft red herring prospectus (DRHP) latest by January 2017. The board had also advised the management to file for overseas listing by April 2017.
As far as other decisions are concerned, the board decided to issue one bonus share of Rs 10 each for every 10 shares of Rs 10 each held. It also decided to split the shares of Rs 10 each into 10 shares of Re 1 each subject to shareholder approval. The board also announced an interim dividend of Rs 79.50 per share of Rs 10 each.
Published 06 October 2016, 19:01 IST