NSE makes muted stock market debut
The listing followed NSE’s Rs 22,561 crore IPO, which was subscribed 5.71 times.
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The National Stock Exchange of India (NSE) made its market debut on Thursday, with its shares listing at Rs 1,800 on the BSE, a 0.84% premium over the initial public offering (IPO) price of Rs 1,785.
The listing followed NSE’s Rs 22,561 crore IPO, which was subscribed 5.71 times. Investors bid for 50.58 crore shares against 8.86 crore shares on offer during the three-day issue.
The IPO carried a price band of Rs 1,700-1,785 per share, with the final issue price fixed at the upper end. The lot size was eight shares, requiring a minimum investment of Rs 14,280.
The entire issue was an offer for sale (OFS) of shares held by existing shareholders, meaning NSE did not receive proceeds from the IPO.
Institutional investors drove the subscription, with the QIB portion subscribed 12.68 times and the NII category 6.55 times. The retail portion received 1.39 times subscription.
The IPO marks the end of NSE’s nearly decade-long wait to go public, after its first IPO attempt in 2016 was stalled by regulatory proceedings.