- NSE debuted at Rs 1,800, just 0.84% over issue.
- This initial listing fell below grey market expectations.
- Strong investor demand led to 5.71 times oversubscription.
The much-awaited National Stock Exchange (NSE) IPO made a muted debut on Dalal Street on Thursday, September 24, with shares listing at Rs 1,800 apiece on the BSE.
The listing price represents a 0.84 per cent premium over NSE’s IPO issue price of Rs 1,785 per share. The debut was below the premium indicated by grey market trends ahead of listing.
NSE’s market debut comes after strong investor demand for its public issue, which was subscribed 5.71 times during the three-day bidding period.
Ahead of the listing, the latest grey market premium had indicated a possible listing price of around Rs 1,825, implying a premium of 2.24 per cent. The actual debut was therefore more subdued than the unofficial market indication.
The NSE IPO was among the most closely watched public offerings in the Indian market, marking the exchange’s long-awaited entry into the listed space.
Rs 22,569 Crore IPO Got Strong Investor Response
The NSE IPO opened for subscription on September 17 and closed on September 21.
The issue was subscribed 5.71 times overall, with investors placing bids for more than 50.58 crore shares against around 8.86 crore shares on offer. The total value of bids stood at Rs 90,287.33 crore.
Institutional investors led the demand. The Qualified Institutional Buyers (QIB) portion was subscribed 12.68 times, while the Non-Institutional Investors (NII) category received 6.55 times subscription.
The retail portion was subscribed 1.39 times.
The IPO allotment was finalised on September 22, ahead of Thursday’s listing.
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What Was Offered In The NSE IPO?
The issue carried a price band of Rs 1,700 to Rs 1,785 per share.
Unlike a conventional IPO involving a fresh issue of shares, the NSE offering was entirely an offer for sale (OFS). Existing shareholders offered 12.64 crore equity shares to investors.
As a result, NSE did not issue any new shares through the IPO. The proceeds from the OFS go to the selling shareholders rather than the company.
NSE Listing Marks Long-Awaited Market Debut
The listing marks a significant milestone for NSE after years of anticipation around its public-market debut.
The exchange has now joined the listed market, with its shares available for trading on the BSE. Its debut price of Rs 1,800 leaves the stock only modestly above the Rs 1,785 IPO issue price, despite the strong subscription recorded during the offering.
Investors will now track how NSE shares trade after the initial listing and how the market values the exchange as a listed company.
As of 10:14 AM, the NSE stock traded at Rs 1,865.85 apiece, climbing 3.66 per cent.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: abplive.com
