Top Indian Exchange’s Valuation Jumps 60% With IPO Looming

Growing hopes for a listing of the world’s biggest equity-derivatives bourse have pushed the valuation of the National Stock Exchange of India Ltd. to $58 billion in private markets, according to people involved in recent transactions.

Wealthy investors and institutions anticipating an initial public offering as early this year have been buying the unlisted shares aggressively, two of the people said, asking not to be identified as the deals are private. With demand far outstripping supply, the stock has changed hands for as much as 2,000 rupees ($23) recently. Its valuation had already doubled in just four months to as ...