IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

Arun has over 15 years’ experience covering the Technology sector. During this time, he has worked with technology start-ups and as an equity analyst in investment banks and independent research firms. He was formerly a Technology Analyst for Canaccord Genuity, Altium Securities, Espirito Santo Investment Bank, Noble Group and Clear Capital. He has a dual Master’s degree in Financial Engineering and Industrial and Operations Engineering from the University of Michigan. He obtained his Bachelor’s degree in Mechanical Engineering from the Indian Institute of Technology, Bombay. He is also a CFA charterholder.

IPOs and Catalysts/Events

National Stock Exchange of India IPO: Valuation Insights

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Global Equity Research Ltd

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Equity Capital Markets

National Stock Exchange of India / Equity Capital Markets

National Stock Exchange of India (NSE IN)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/national-stock-exchange" target="_blank" data-smartkarma-citation="entities:23751:1" rel="noopener">National Stock Exchange (NSEIN IN)</a>, India's largest stock exchange, is seeking to raise about US$2.6 billion. </li>
<li>The IPO comprises a fully secondary share offering. Subscription is expected to open the week of 14 September at a rumoured revised price band of Rs1,700–1,785.</li>
<li>The investment case is bearish as NSE is a dominant, high-margin franchise carrying real regulatory-driven revenue and competitive risk concentrated in options, its core revenue line.</li>
</ul>



National Stock Exchange (NSEIN IN), India's largest stock exchange, is seeking to raise about US$2.6 billion. 
The IPO comprises a fully secondary share offering. Subscription is expected to open the week of 14 September at a rumoured revised price band of Rs1,700–1,785.
The investment case is bearish as NSE is a dominant, high-margin franchise carrying real regulatory-driven revenue and competitive risk concentrated in options, its core revenue line.


National Stock Exchange of India IPO: The Investment Case