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The Vietnamese electric-vehicle maker said the proposed outlets would span Luzon, Visayas and Mindanao, extending its reach beyond major centres such as Metro Manila and Cebu into markets including Cagayan de Oro, Tacloban and Subic Bay. The sites are expected to combine vehicle display, customer consultations, sales and after-sales services under VinFast’s global showroom standards.

The agreements, announced on September 11, bring together Elite North Auto Cars Inc., MG Gateway Mantrade Corp., Grand Canyon Multi Holdings Inc., Britannica United Motors Incorporated, VF Auto Sto Tomas Inc., GR8 Marketing Motors Inc., ARCMA Motors Corporation, Autonomics Motor Corp., Gershom Car Trading Corp., Areza Motor Sales Inc., Central Auto Resources Inc., Autolink Global Motors Inc. and Greenport Mobility Inc.

VinFast said the partners’ distribution experience and regional networks would help accelerate expansion and improve access to its electric cars and support services. The company did not disclose investment values, opening dates for individual locations or how many of the 27 sites would provide full workshop facilities.

Antonio Zara, chief executive of VinFast Southeast Asia, said the Philippines remained a key market in the company’s longer-term regional and global plans. He said VinFast was seeking to develop not only its retail footprint but also products, services, infrastructure and the wider electric-vehicle ecosystem, working with local partners to make battery-powered mobility more accessible.

The latest dealer push builds on a network expansion already under way. VinFast said in April 2025 that it had reached agreements with six Philippine dealers to establish more than 60 new showrooms, including planned locations in Metro Manila, Quezon City and other urban centres. Its third-quarter 2025 financial disclosure later said the company had nine showrooms operating nationwide, underscoring the gap between announced development plans and sites actually opened.

That distinction remains important for the new programme: the 27 outlets are covered by memoranda of understanding and are expected to be developed, rather than being newly opened locations. VinFast’s stated target is to develop a total network of 60 dealerships in the Philippines in 2026.

The company has also been adding after-sales and charging capacity as it seeks to reduce practical barriers to electric-vehicle ownership. VinFast previously signed an agreement with Motech aimed at bringing up to 63 service workshops into its authorised repair, warranty and maintenance network. It has also worked with other service partners and has promoted charging infrastructure through V-Green, the charging-network business associated with the wider Vingroup ecosystem.

VinFast entered the Philippine passenger-vehicle market with a battery-electric range that has included the VF 3, VF 5, VF 6, VF 7 and VF 9. At the Philippine International Motor Show in June 2026, the company displayed its broader mobility offering and highlighted programmes combining vehicle access, charging and transport services.

Its expansion comes as carmakers compete for position in a Philippine electric-vehicle market supported by government measures intended to encourage cleaner transport. The Electric Vehicle Industry Development Act established a national policy framework for EV adoption, charging infrastructure and industry development, while tariff measures have lowered import costs for qualifying electric vehicles and components.

Dealer coverage is a central challenge for newer entrants because buyers expect servicing, spare parts and warranty support alongside vehicle sales. VinFast has increasingly used local dealer partnerships across Southeast Asia and other markets rather than relying solely on company-owned retail outlets, allowing it to add sales points faster while drawing on established operators’ local knowledge.

The 13 new partners are expected to help VinFast reach customers across several island groups, where distribution and after-sales logistics can be more complicated than in a single contiguous market. VinFast has separately worked with logistics providers in the Philippines to support vehicle inspection, distribution and servicing as its product range expands.

The talks, held on the sidelines of the BRICS summit, focused on bilateral relations and the regional security situation. India’s Prime Minister reiterated that disputes should be resolved through dialogue and diplomacy and called for sustained efforts to secure lasting peace and stability, according to an official statement issued after the meeting.

Modi specifically highlighted the need to safeguard freedom of navigation and commerce and the safety and well-being of seafarers. The issue has become a central concern for New Delhi as attacks on commercial vessels and disruption to maritime routes in the region have affected trade and put crews at risk.

The meeting was Modi and Pezeshkian’s second in less than two weeks. They had met on August 31 on the sidelines of the Shanghai Cooperation Organisation summit in Bishkek, where Modi also raised the protection of commercial shipping and seafarers and urged a diplomatic approach to the West Asia conflict.

Friday’s discussion came as the conflict involving Iran, the United States and Israel continued to place pressure on strategic waterways and supply routes. India has sought to maintain working relations with Iran while also preserving close ties with Israel and Arab states, making maritime security and regional stability important economic as well as diplomatic priorities.

At least 10 nationals of India have been killed in attacks on vessels transiting the region during the conflict. New Delhi has condemned attacks affecting Gulf countries, energy infrastructure and commercial shipping, while repeatedly calling for de-escalation and protection of civilians and maritime workers.

The maritime threat has sharpened concerns over energy shipments through Gulf waters that remain critical to India’s oil and gas imports.

Modi reinforced the same message earlier on Friday at the BRICS Business Forum, saying global trade could advance only when sea lanes were secure, supply routes remained open and seafarers were safe. He described India as a firm supporter of freedom of navigation and the safety of maritime crews.

Pezeshkian, who was making his first visit to India as president, used his participation in BRICS meetings to press for stronger economic cooperation among members and protection of legitimate trade from political and military pressure. He argued that the grouping’s strength would be demonstrated by converting economic capacity into functioning networks for trade, investment and joint financing.

The Iranian president also called for greater use of national currencies in trade among BRICS members and said Tehran was prepared to work as a strategic partner in energy and transport supply chains. His remarks reflected Iran’s effort to reduce exposure to sanctions and other constraints on cross-border commerce.

During the bilateral meeting, Modi thanked Iran for maintaining high-level participation in BRICS-related meetings despite difficult circumstances. He said the grouping could strengthen resilience, innovation, cooperation and sustainability among countries of the Global South.

The two leaders also reviewed broader bilateral ties and cooperation in multilateral organisations. Modi welcomed continuing coordination on issues of mutual interest within BRICS, where Iran is a full member alongside Brazil, Russia, India, China, South Africa and other states that have joined the expanded grouping.

The talks followed Pezeshkian’s participation in the Leaders’ Session of the BRICS Business Forum. Modi thanked him for attending and said engagement between the two countries should continue across bilateral and multilateral channels.

The New Delhi meeting also built on the August 31 discussions in Bishkek, when Pezeshkian told Modi that Tehran favoured a negotiated solution to its confrontation with the United States. Modi at that meeting expressed concern over escalating tensions and said civilians, civilian infrastructure, commercial shipping and seafarers should not be harmed.

Under the agreements, the 27 VinFast showrooms are expected to be developed across all three major geographical regions of the Philippines: Luzon in the north, Visayas in the central region, and Mindanao in the south. The network will strengthen VinFast’s presence in major urban centers such as Metro Manila and Cebu, while extending its reach to new, high-potential areas including Cagayan de Oro, Tacloban, and Subic Bay. This will bring VinFast’s electric vehicles and services closer to customers nationwide.

Developed in line with VinFast’s global standards, the showrooms will offer modern and convenient spaces where customers can learn about and experience the brand’s products, as well as access sales and after-sales services. The expanded network will also improve access to electric vehicles and related services, helping meet the growing demand for EVs in the Philippine market.

Supporting VinFast in the development of its new showroom network are 13 established local partners: Elite North Auto Cars Inc., MG Gateway Mantrade Corp., Grand Canyon Multi Holdings Inc., Britannica United Motors Incorporated, VF Auto Sto Tomas Inc., GR8 Marketing Motors Inc., ARCMA Motors Corporation, Autonomics Motor Corp., Gershom Car Trading Corp., Areza Motor Sales Inc., Central Auto Resources Inc., Autolink Global Motors Inc., and Greenport Mobility Inc.

These 13 companies bring extensive experience in automotive distribution in the Philippines and share VinFast’s commitment to advancing the green transition. Their market knowledge, operational capabilities, and extensive networks will provide additional momentum for VinFast to accelerate the development of its distribution system, expand customer access, and enhance service quality across the country.

Mr. Antonio Zara, CEO of VinFast Southest Asia, said: “The Philippines is one of the key markets in VinFast’s long-term growth strategy in the region and globally. Here, we are not only focused on expanding our sales network, but also on building a sustainable foundation for growth spanning products, services, infrastructure, and the broader EV ecosystem. With the support of our local partners, VinFast will continue to expand our operations in the years ahead, gradually making green mobility a more accessible and convenient choice for Filipino consumers.”

VinFast is steadily building a comprehensive “For a Green Future” electric vehicle ecosystem across key markets in Southeast Asia. In the Philippines, VinFast continues to invest in products, services, and infrastructure to make EV ownership as convenient as possible for customers. Alongside a diverse EV lineup and attractive customer support policies, VinFast is placing a strong focus on expanding its after-sales service network and charging infrastructure with the support of V-Green and local partners. Through these efforts, the brand reaffirms its long-term commitment to investing in the Philippines and supporting the country’s transition to green mobility.

Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

Two decades after its first projects broke ground on reclaimed industrial land and riverbank outside Hanoi, Vinhomes, anchored in the wider Vingroup ecosystem and its “ESG++” environmental standards, is positioning itself to help define what a good city looks like for the decades ahead.

Building Cities as Integrated Ecosystems, Not Just Developments

The first Vinhomes projects rose on difficult ground, but their premise was unusual for its time: that a residential development had to fold an entire urban life into a single, walkable proposition. Royal City and Times City were carved from former industrial land in Hanoi, while Vinhomes Riverside took shape on the far side of a river that once marked the edge of the city’s imagination. What set these projects apart was not their scale but their structural approach, schools, clinics, parks, transit, and commerce built in as foundations, not added on later.

That premise has held up. Vietnam’s cities have since become one of the region’s most closely watched growth stories. In 2025, the country drew more than $38 billion in registered foreign direct investment, with real estate the second-largest recipient sector after manufacturing. The capital is following the population, and the population is following the belief that Asian cities will decide what urban life looks like next. Research from the McKinsey Global Institute finds that roughly half of the world’s 600 largest cities by GDP are now in Asia, and that in most Asian countries, cities already generate more than 80 percent of national output.

Vinhomes’ answer to the challenge of urban sequencing has been structural rather than cosmetic, folding its projects into the wider Vingroup ecosystem. A housing development arrives already wired into education (Vinschool, VinUni), healthcare (Vinmec), retail (Vincom Retail), hospitality (Vinpearl, VinWonders), and green mobility (VinFast, V-Green, Green SM), with renewable energy and regional infrastructure now extending that network through VinEnergo and VinSpeed. The premise is that a city assembled this way behaves less like a real-estate product and more like an economy in miniature, one that generates its own demand for jobs, services, and further investment as residents move in.

From ESG++ Leadership to Global Expansion

The newer test for urban development is what a project is willing to leave alone. Vinhomes has framed its approach as “ESG++”, not merely limiting environmental damage, but actively restoring the ecosystems a project sits within. At Can Gio, Vinhomes Green Paradise is being built alongside one of Vietnam’s most significant mangrove systems, with construction is deliberately constrained to protect it. In Ha Long, Vinhomes Global Gate sits beside a UNESCO World Heritage Bay, built with the explicit aim of complementing rather than competing with the landscape.

This approach has drawn notice beyond Vietnam. Vinhomes Green Paradise became the first official global participant in New7Wonders’ “7 Wonders of Future Cities” initiative. Jean-Paul de la Fuente, the campaign’s director, described visiting the project as an encounter with a place where nature, people, and technology converge in ways he had not anticipated from the paperwork alone, adding that few developers anywhere have the execution capacity to build at this scale and speed while still managing that complexity.

The company’s ambitions now extend well beyond its home market. Vinhomes has projects and development plans in Congo, India, Australia, the Philippines, and Indonesia, less an export of a real-estate model than an attempt to carry two decades of Vietnamese urban experience into markets asking the same questions Vietnam once asked itself. For most of the modern era, Vietnamese cities absorbed standards and formats tested elsewhere; that posture is shifting, and not only inside Vietnam.

The data points to a single conclusion: the next several decades of urban growth will be decided in Asia, whether or not Asian developers are ready to define its terms. The United Nations’ World Urbanization Prospects 2025 puts the scale of that growth beyond dispute, cities are now home to 45 percent of the planet’s 8.2 billion people, more than double the share in 1950, with two-thirds of all future population growth through mid-century expected to land in urban areas. The number of megacities has quadrupled since 1975, from eight to 33, and more than half of them sit in Asia. Capital is already voting with its feet, and McKinsey’s research suggests the economic weight has shifted, even if global recognition has not yet caught up.

What Vinhomes is proposing, in effect, is that the second half of that shift, reputation, precedent, the standing to say what a good city looks like, is still being written. Twenty years on from a stretch of marshland and disused factory yards outside Hanoi, the argument is no longer really about towers. It is about whether a place built quickly can still be built to last, for the people living in it and for the land it stands on.

Hashtag: #Vinhomes

The issuer is solely responsible for the content of this announcement.

About Vinhomes

Vinhomes is Vietnam’s largest residential real estate and integrated township developer. The company pioneers the development of synchronized, modern large-scale townships, delivering premium living standards and unlocking sustainable investment opportunities for domestic and international clients.

By Dr. Gyan Pathak With all talks between the United Forum of Banks Unions (UFBU) and Indian Banks’ Association (IBA), Department of Financial Services (DFS), and Central Labour Commissioner under the Union Ministry of Labour and Employment failed, the Public Sector Banks in India have issued alerts for possible disruption of banking operations during all […]

The article Banks issue alerts: Operations may face disruption on Sep 11 appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

A National Barometer Survey released Thursday showed 43 per cent of respondents approved of Lee’s handling of state affairs, down seven percentage points from two weeks earlier, while 48 per cent disapproved. It was the first time disapproval exceeded approval in the biweekly poll since Lee took office in June 2025.

The same survey found 45 per cent opposed deploying military assets, including maritime patrol aircraft and support ships, to Hormuz, compared with 36 per cent who supported such a move. Opposition was strongest among respondents in their 40s and 50s and among supporters of Lee’s ruling Democratic Party, underscoring the domestic political risk surrounding any military contribution.

Seoul has repeatedly said no final decision has been made. Seong Ghi-hong, senior presidential secretary for public relations and communication, said Wednesday that the government had not finalised its policy and was “cautiously assessing” the issue. A Defence Ministry inspection team sent to the United Arab Emirates to examine conditions returned on Thursday.

The government has described the mission as an assessment rather than preparation for deployment. National Security Adviser Wi Sung-lac also said talks between Lee and French President Emmanuel Macron in Paris focused on possible contributions to maritime security and freedom of navigation, not on an agreement to send troops.

The debate has sharpened as US President Donald Trump presses allies to help secure Hormuz during the prolonged conflict with Iran. Trump has publicly criticised Seoul over its reluctance to support US efforts in the waterway, which carries a major share of the energy supplies used by South Korea and other Asian economies.

South Korean officials have denied that Washington imposed a deadline for a deployment. The presidential office has said Seoul is discussing practical ways to support peace, stability and free navigation with international partners, while weighing military readiness, legal requirements and the risks of deeper involvement in the conflict.

Any dispatch of troops would require approval from the National Assembly, where Lee’s Democratic Party holds a majority. That gives the government procedural room but does not remove the political cost of acting against a sizeable share of public opinion, including voters aligned with the ruling camp.

A separate Hangil Research survey conducted from September 5 to 7 found 47.1 per cent opposed deployment and 43 per cent supported it, a difference within the poll’s margin of error. Opposition rose to 55.5 per cent among Democratic Party supporters and 62.4 per cent among self-described liberals.

Lee’s broader ratings have also weakened for domestic reasons. A Realmeter survey released Monday put his approval at 37.4 per cent, down 1.5 percentage points over the week and the eighth consecutive weekly decline. The pollster linked the fall primarily to disputes over a cabinet reshuffle and housing-related policy changes rather than the Hormuz question alone.

Gallup Korea last week placed Lee’s approval at 40 per cent, with 51 per cent disapproving. Respondents who viewed him negatively most often cited real estate policy, followed by concerns about the economy and livelihoods and dissatisfaction with personnel appointments.

The Hormuz issue nevertheless adds a foreign-policy dilemma at a sensitive moment. South Korea depends heavily on imported energy, and disruption in the strait has already increased the strategic importance of keeping shipping routes open. At the same time, Iran has warned Seoul against military participation, saying such a move could be viewed as siding with US military action.

Shipping through Hormuz remains sharply below pre-war levels as the United States and Iran continue military and economic pressure around the waterway. The conflict has pushed oil prices higher and complicated supply planning across Asia, giving Seoul a direct economic interest in restoring safer passage without becoming drawn further into hostilities.

The latest additions include Zoho co-founder and chief scientist Sridhar Vembu, Angel One Group chief executive Ambarish Kenghe, Emergent founder and chief executive Mukund Jha and Canva country manager Chandrika Deb. Their participation was announced on September 10, extending a lineup that already includes senior policymakers, fintech founders, researchers, venture investors and enterprise technology executives.

The summit, organised by YourStory, is scheduled for October 13 to 15 at the Sheraton Grand Bengaluru Whitefield Hotel and Convention Center. Its 2026 theme, “The New Tech Order”, centres on how AI, deep technology and new digital infrastructure are changing access to technology, business formation and the distribution of economic and technological power.

Among the previously announced speakers are Priyank Kharge, Karnataka’s Minister for Home, IT, BT and E-Governance; Krishna Byre Gowda, Minister for Greater Bengaluru Development; PhonePe founder and chief executive Sameer Nigam; and Pramod Varma, co-founder and chief architect of Networks for Humanity. The programme also lists Rahul Chari, founder and chief product and technology officer of PhonePe, and Manish Maheshwari, managing director for India at Stripe.

Organisers say the event is expected to draw more than 10,000 attendees, more than 500 speakers and about 300 investors. The official event website also lists more than 1,000 startups, while another event page refers to more than 200 participating startups, indicating that the figures represent different participation categories or programme groupings.

The first day is set to examine shifts in technological power, including AI as infrastructure, computing capacity, semiconductor supply chains, data ownership and the balance between technological sovereignty and globalisation. Other sessions are expected to address enterprise adoption of AI, startup financing, digital public infrastructure, climate technology, product development and the role of Bengaluru as a centre for technology-led businesses.

The breadth of the programme reflects a shift in concerns facing technology companies. Access to capital remains important, but founders are contending with computing costs, pressure to demonstrate AI products, scrutiny of data use and the need to build businesses capable of expanding without relying indefinitely on external funding. Investors are expected to examine those trade-offs as they assess companies operating across software, fintech, climate technology, mobility, health technology and deeptech.

Bengaluru’s civic and policy challenges are part of the agenda. Byre Gowda’s participation brings urban development into the discussion, while Kharge is expected to address the state’s role in supporting emerging technologies, entrepreneurship and digital infrastructure. Their presence links the startup programme with questions about how a technology centre manages infrastructure, talent, regulation and public services.

The speaker list spans established technology companies and younger ventures. It includes Anjali Bansal of Avaana Capital, Ashutosh Sharma of Prosus, Michael Cronin of Couchbase, Nagendra Nagaraja of QpiAI, Geetha Manjunath of Niramai Health Analytix, Nicolas Sauvage of TDK Ventures and Priyanka Agarwal Chopra of IIMA Ventures. Academic and research participants include Ashok Jhunjhunwala of IIT Madras and Shivkumar Kalyanaraman, chief executive of the Anusandhan National Research Foundation.

TechSparks will also host its Tech30 programme, which identifies 30 technology companies for a showcase at the summit. The 2026 selection process moved into its second stage on September 10, with shortlisted companies required to submit a more detailed application. The final cohort is scheduled to be locked by September 30 and presented during the event.

A separate VibeCode30 programme is aimed at AI-native builders, while ActionLabs and masterclasses are designed around hands-on problem solving and practical technology deployment. The event format also includes startup networking zones, an India-international corridor and a government pavilion.

The move comes as the National Payments Corporation of India develops protocols for identifying and authorising AI agents on the Unified Payments Interface, creating infrastructure that could let software complete selected payments under rules and limits set by customers.

Super. money founder and chief executive Prakash Sikaria has said the emerging architecture could allow agents representing merchants and consumers to interact directly, reducing the number of steps between product discovery and payment. The company is seeking to use that shift to extend its role beyond routine UPI transfers into commerce, credit and investment-related transactions.

Agentic payments differ from conventional chatbots because the software can act after interpreting an instruction rather than merely provide information. A user could, for example, ask an agent to find an eligible product within a budget or execute a purchase when specified conditions are met, subject to the permissions built into the payment framework.

NPCI is working on a registry to verify and monitor AI agents conducting transactions through UPI. Its proposed Unified Agent Protocol is expected to support controls including spending limits, identity checks and audit trails. The initial focus is on small, frequent purchases, while more complex conditional transactions could follow as safeguards and liability rules develop.

The payments body has already extended UPI Circle, its delegated-payments framework, to software profiles including AI profiles for limited users. Under the broader system, account holders can delegate payment authority within predefined limits while retaining visibility over transactions. Reserve Pay, another UPI mechanism, can block funds for authorised payments that may be debited later.

Super. money’s push builds on products added this year as it tries to broaden engagement beyond person-to-person and merchant payments. Its splitStore service, introduced in July, lets eligible customers browse products listed on Flipkart and either pay in full or use a pay-later facility provided by regulated lending partners.

The company’s terms state that Flipkart and its sellers remain responsible for the underlying sale, fulfilment, invoicing, cancellations and returns, while Super. money provides the shopping and credit interface. The platform does not hold inventory or set product prices.

Super. money has also added digital gold. Its customer-support documentation describes purchases, sales and reconciliation procedures involving a vault partner, while the app has promoted cashback on gold purchases. The service includes a post-purchase selling lock-in and applies the tax and market spread associated with digital-gold transactions.

Those products give the company potential use cases for agents that can move from a customer instruction to a transaction without requiring the user to navigate several separate screens. The central challenge is ensuring that delegated authority remains narrow enough to prevent unwanted or mistaken purchases.

That concern is shaping the wider industry’s approach. Razorpay, NPCI and OpenAI have been testing agentic payments using UPI Reserve Pay, with an earlier pilot allowing users to shop through a conversational AI interface and complete purchases from participating merchants after confirmation. Razorpay says its system is designed to support pre-authorised transactions within customer-approved spending limits.

Competition is intensifying as payments companies decide how extensively to integrate AI. PhonePe co-founder Rahul Chari has cautioned that not every existing payments experience becomes better merely by adding artificial intelligence, signalling a more selective approach than platforms seeking to make autonomous agents central to commerce.

Super. money remains smaller than the dominant UPI applications, giving it an incentive to pursue newer transaction categories rather than compete solely on basic payments. Its app combines UPI with credit, deposits, bill payments, shopping and other financial products, while the company has used cashback and embedded credit to encourage repeat usage.

The offer will now comprise up to 126.44 million shares, down from about 148.91 million in the draft prospectus, according to the red herring prospectus dated September 10. The price band has been fixed at Rs 1,700 to Rs 1,785 a share, valuing NSE at as much as roughly Rs 4.42 trillion.

At the top of the band, the offer could raise about Rs 22,568 crore, compared with roughly Rs 26,580 crore had the original number of shares been sold at the same price. The transaction is entirely an offer for sale, meaning NSE will not receive proceeds and no fresh shares will be issued.

The revised structure follows concern among prospective investors about whether the exchange could sustain the growth rates that supported higher valuation expectations before tighter rules cooled activity in its lucrative derivatives business. An earlier marketed range of about Rs 2,000 to Rs 2,100 a share would have implied a valuation of as much as Rs 5.26 trillion.

Several large shareholders have reduced the number of shares they plan to sell. State Bank of India cut its proposed sale to about 15.97 million shares from 24.75 million, while Bank of Baroda, Indian Bank and other institutional holders also lowered their offers. SBI Capital Markets was added as a selling shareholder with nearly 8.8 million shares.

Other investors, including Canada Pension Plan Investment Board and ICICI Lombard General Insurance, retained their proposed sale quantities. The changes reduce the stake being offered to about 5.2 per cent of NSE’s equity from the 6 per cent envisaged in the draft prospectus.

The downsizing comes as investors scrutinise the exchange’s dependence on derivatives activity. NSE derives a substantial share of its revenue from options trading, where volumes have weakened after the Securities and Exchange Board of India introduced measures aimed at curbing excessive speculation and reducing risks for retail participants.

Options trading volumes on the exchange fell more than 12 per cent from a year earlier in August, adding to questions about the pace of future transaction-related revenue growth. Those concerns have been balanced by NSE’s strong profitability and dominant position in cash equities and derivatives.

For the quarter ended June, NSE reported a 6.7 per cent increase in net profit to about Rs 3,120 crore, while revenue rose roughly 13 per cent to Rs 4,560 crore. The figures give prospective investors a clearer view of the exchange’s earnings power as they assess the lower offer price.

The public offer is scheduled to open on September 17 and close on September 21, with anchor investors expected to bid a day earlier. A listing is expected around September 24, subject to completion of the offer process and final regulatory requirements.

The timetable follows regulatory clearance that removed a key obstacle to the listing. The Securities and Exchange Board of India approved the IPO prospectus on September 4 after NSE moved to settle long-running disputes linked to allegations of unfair access to its trading systems.

The Supreme Court also dismissed the market regulator’s appeal in the co-location matter after the parties indicated that a settlement had been reached. NSE had agreed to pay about Rs 1,491 crore to resolve the case, allowing the listing process to advance without that litigation hanging over the issue.

The reduced transaction will no longer challenge Hyundai Motor India’s 2024 flotation for the record as the country’s largest IPO by proceeds. Hyundai raised about Rs 27,870 crore, while NSE’s offer is expected to be worth about Rs 22,500 crore at the top of its announced price band.