Stories
Narayana Murthy, Azim Premji Strike Gold with NSE IPO; Spinny, Snapdeal Eye Dalal Street
- •Narayana Murthy and Azim Premji have seen significant gains from the NSE IPO.
- •Spinny and Snapdeal are preparing to list on Dalal Street, indicating a growing trend of tech companies entering the public market.
- •The article, MC Tech3, covers these and other key developments in the tech and finance sectors.
Key Questions Answered
At the IPO's upper price band of Rs 1,785 per share, the NSE holdings of long-standing investors including Narayana Murthy and Azim Premji are collectively worth almost Rs 30,000 crore (specifically around a cumulative Rs 29,400 crore).
No, prominent long-standing investors such as Azim Premji's family office (Premji Invest) and Narayana Murthy's family office (Catamaran) are choosing to hold on to their stakes rather than sell them into the landmark listing.
The National Stock Exchange's Rs 22,561 crore initial public offering is structured entirely as an offer for sale of 12.64 crore shares. Consequently, the exchange itself will not receive any proceeds from the issue, as the money goes to existing shareholders who are selling their holdings.
