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NSE’s Rs 22,569-Crore IPO Opens With 9% Subscription
The National Stock Exchange of India has started selling shares to the public.
This sale is called an initial public offering, or IPO.
On the first day, investors applied for 9% of the shares available.
Retail investors applied for 12% of their allotted portion, while non-institutional investors applied for 15%.
Before the public sale, large investors put in Rs 6,746 crore.
The shares are being offered between Rs 1,700 and Rs 1,785 each.
Existing shareholders are selling the shares, so the money will go to them rather than directly to NSE.
The offering is one of India’s largest IPOs and follows years of delayed listing plans.
The National Stock Exchange of India’s Rs 22,569-crore IPO opened Thursday and was 9% subscribed on the first day.
Investors bid for 81,99,336 shares against 8,86,42,911 shares on offer, according to BSE data at 10:16 am.
Non-institutional investors subscribed to 15% of their allocation, while retail investors subscribed to 12%.
Anchor investors, including LIC, Goldman Sachs, Fidelity and sovereign wealth funds, invested Rs 6,746 crore.
The offer-for-sale is priced at Rs 1,700-Rs 1,785 per share and values NSE at up to Rs 4.42 lakh crore.
- Who
- The National Stock Exchange of India, its existing shareholders, public investors and anchor investors.
- What
- NSE launched a Rs 22,569-crore initial public offering that was 9% subscribed on its first day.
- Where
- India; the subscription data was reported from the Bombay Stock Exchange.
- When
- The IPO opened on Thursday; subscription data cited was recorded at 10:16 am, and the issue is scheduled to close on September 21.
- Why
- Existing shareholders are selling up to 12.64 crore shares through an offer-for-sale, while NSE’s listing plans follow years of regulatory delays.
Key facts
- IPO size
- Rs 22,569 crore at the upper end of the price band
- First-day subscription
- 9%, with bids for 81,99,336 shares against 8,86,42,911 shares offered
- Price band
- Rs 1,700-Rs 1,785 per equity share
- Valuation
- Rs 4.2 lakh crore to Rs 4.42 lakh crore
- Anchor investors
- Raised Rs 6,746 crore before the public offering
- Offer structure
- Offer-for-sale of up to 12.64 crore shares by existing shareholders
- Market position
- India’s second-largest public issue, after Hyundai Motor India’s Rs 27,870-crore IPO in 2024
- Reported debut
- Expected to make its market debut on September 24
Sources
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