1 hr ago
NSE IPO Gets Moderate Day-One Demand, GMP Signals Gains
The NSE is offering shares to investors through an IPO.
On the first day, investors placed fewer bids than the number of shares available.
Employees showed the most interest, while large investment institutions showed the least.
Retail investors subscribed to 0.44 times their allotted portion.
The shares are priced between Rs 1,700 and Rs 1,785.
In unofficial grey-market trading, the shares were priced at a level suggesting an possible 8.24% gain at listing.
However, grey-market prices can change and do not guarantee the actual listing price.
Investors can apply until September 21.
The shares may be listed on the BSE on September 24.
The NSE IPO was subscribed 0.43 times on its first bidding day, with 3.83 crore shares bid for against 8.86 crore shares offered.
Employee investors showed the strongest demand at about 0.97–0.98 times, while QIBs subscribed 0.19 times.
The price band is set at Rs 1,700–Rs 1,785 per share, with employees receiving a Rs 170 discount.
The grey market premium of Rs 147 implies a potential listing price of Rs 1,932, or an 8.24% gain over the upper price band.
Bidding runs from September 17 to September 21, with allotment expected by September 22 and a likely BSE listing on September 24.
- Who
- The National Stock Exchange of India is offering shares, with employees, retail investors, non-institutional investors and qualified institutional buyers participating.
- What
- The NSE IPO received 0.43-times subscription on its first day, while its grey-market premium indicated a possible 8.24% listing gain.
- Where
- The shares are likely to list on the Bombay Stock Exchange.
- When
- Bidding opened on September 17 and is scheduled to close on September 21; allotment is likely by September 22 and listing on September 24.
- Why
- The IPO is an offer for sale in which existing investors will sell 12.64 crore shares.
Key facts
- Issue size
- Rs 22,652 crore
- Price band
- Rs 1,700–Rs 1,785 per share
- Day-one subscription
- 0.43 times
- Employee subscription
- Approximately 0.97–0.98 times, with a Rs 170 per-share discount
- Qualified institutional buyer subscription
- 0.19 times
- Grey-market premium
- Rs 147, implying a potential Rs 1,932 listing price at the upper band
- Minimum bid
- 8 shares and in lots thereafter
- Lead manager and registrar
- Kotak Mahindra Capital and MUFG Intime India
Sources
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