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Informist, Wednesday, Sept. 9, 2026

--New India Assurance to divest 29.8% of its stake in NSE via exchange's IPO

NEW DELHI – The New India Assurance Co. Ltd. is planning to divest 10.5 million equity shares of National Stock Exchange Ltd., representing 29.83% of its stake, in the exchange's proposed initial public offering. Shares will be sold through "an offer for sale, subject to the receipt of all necessary regulatory approvals," the bank said in an exchange filing Wednesday.

"As part of the offer for sale process, the equity shares have been transferred to the 'escrow account' on 08th September 2026 (Tuesday)," the filing said. The insurer has received over INR 1.23 billion as dividend from NSE for 2025-26 (Apr-Mar).

The NSE is working towards launching its three-day initial public offering by Sept. 18, according to a person familiar with the development. The exchange had received approval from the Securities and Exchange Board of India for its draft red herring prospectus last week. In NSE's IPO, existing few institutional and corporate shareholders are offloading nearly 149 million shares. There is no fresh issue of equity shares by the NSE in the IPO.

For the June quarter, the insurer had reported a net loss of INR 2.57 billion on total income of INR 112.36 billion. At 1346, its shares traded at INR 205.78 on the National Stock Exchange, up 0.3% from Tuesday.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Shweta

Edited by Akul Nishant Akhoury

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