Introduction Of India
360 One Asset, a prominent investor in It National Stock Exchange (NSE), has raised its valuation of the stock exchange to $29.9 billion, reflecting significant confidence in India’s economic future. This new valuation is a substantial increase from the $18 billion to $19 billion range that the NSE was valued at in private transactions just last year.
Table of Contents
The wealth manager, which made its investment in NSE through its SOF8 fund, communicated this updated valuation in a June report to its investors, as reviewed by TechCrunch. The increased valuation underscores the rising optimism surrounding India’s financial markets and the growing number of public listings in the country.
India’s Financial Market on the Rise
NSE’s new valuation coincides with It rising prominence in global financial markets. Late last year, the collective market capitalization of firms listed on NSE surpassed that of companies listed on the Hong Kong Stock Exchange. Additionally, NSE maintains its position as the world’s largest derivative exchange, further demonstrating the growing influence of India’s financial infrastructure.
In the financial year ending in March, NSE reported a revenue of $1.94 billion, a 28% increase from the $1.52 billion recorded the previous year. This robust growth, along with the strong backing of prominent investors like CPPIB, Chrys Capital, Temasek, Fairfax, and Tiger Global, reflects the stock exchange’s vital role in India’s expanding economy.
360 One’s Broader Portfolio Assessment
Beyond its assessment of NSE, 360 One Asset also provided updated valuations for other investments within its portfolio. The wealth manager valued food delivery giant Swiggy at $11.5 billion, marking an increase from its last private capital raise at $10.7 billion in early 2022. Additionally, it ascribed valuations of $4 billion to merchant payments platform Pine Labs, $900 million to online seafood and meat store Licious, and $1.9 billion to edtech startup Upgrad.
Conclusion
The upward revision of NSE’s valuation by 360 One Asset highlights the increasing confidence in India’s economic trajectory and the growing significance of its financial markets on the global stage. As the country continues to experience robust economic growth, the NSE, supported by strong financial backing, is well-positioned to further enhance its role as a leader in the global exchange landscape.
