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 listing followed NSE’s Rs 22,561 crore IPO, which was subscribed 5.71 times.
The anchor book saw participation from large domestic mutual funds including SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund, among others.
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.
The IPO will open on September 24 and close on September 28, while the anchor investor round is scheduled for September 23.
Earlier this year, other lending companies such as Kissht and Aye Finance also cut their IPO size, as valuation concerns grew.
The IPO preparations come as InsuranceDekho continues to work on its merger with insurance distribution platform RenewBuy.
The Pune-headquartered company aims to raise Rs 750 crore through a fresh issue of shares.
Kissht has cut the fresh issue component from Rs 1,000 crore to Rs 850 crore, while OFS portion has also been reduced from 8.8 million shares to 4.4 million shares.
The stock exchange has been attempting to list since 2016 to provide exit to its investors.
The IPO comprises of fresh issue of shares worth up to Rs 1,500 crore, and an offer for sale (OFS) worth up to Rs 1,500 crore.
Meanwhile, fintech companies, Pine Labs and Groww, have already made their public market debut this year.