360 One Asset, an investor in India’s National Stock Exchange (NSE), has raised its valuation for the stock exchange to $29.9 billion. Last year, the firm was valued at $18 billion to $19 billion in private transactions. The increase in valuation shows that there is more confidence in India’s economy and an increase in public listings.
The wealth manager invested in NSE through its SOF8 fund. In June, it informed its investors about the increased value of its stake in NSE. This shows that the financial situation in India is improving, and more companies are going public.
NSE has backers like CPPIB, Chrys Capital, Temasek, Fairfax, and Tiger Global. In the last financial year, NSE reported revenue of $1.94 billion, which is 28% higher than the previous year.
India is becoming more important in global financial markets. The total market value of companies listed on NSE exceeded that of companies on the Hong Kong Stock Exchange. NSE is also the largest derivative exchange in the world.
When asked for comments, NSE did not respond immediately. 360 One Asset also chose not to comment.
In addition to NSE, 360 One Asset also assessed its stake in other startups. They valued Swiggy at $11.5 billion, Pine Labs at $4 billion, Licious at $900 million, and Upgrad at $1.9 billion. This shows that the startup ecosystem is growing in India.
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