4 hrs ago
National Stock Exchange Joins World’s Top Seven Exchanges
The National Stock Exchange of India, or NSE, is a marketplace where people trade shares.
Its own shares began trading on Thursday.
They closed at Rs 1,818, slightly higher than the IPO price of Rs 1,785.
This gave the exchange a value of about Rs 4.49 lakh crore.
That value placed NSE among India’s 11 largest listed companies at the end of the day.
It also made NSE the world’s seventh most valuable stock exchange.
Investors had offered to buy the shares almost six times more than the number available.
NSE’s plans to become a listed company had been delayed for nearly a decade because of regulatory issues.
National Stock Exchange of India shares closed 1.85% above the issue price at Rs 1,818 on their BSE debut.
The listing valued NSE at Rs 4.49 lakh crore, making it India’s 11th most valuable listed company at close.
NSE briefly entered India’s top 10 companies by market value before Hindustan Unilever moved ahead by the close.
NSE became the world’s seventh most valuable exchange, behind CME Group, Intercontinental Exchange, Hong Kong Exchanges & Clearing, Deutsche Börse, Nasdaq and London Stock Exchange.
The Rs 22,569-crore IPO was subscribed nearly six times and followed listing plans delayed for almost a decade by regulatory hurdles.
- Who
- The National Stock Exchange of India and its existing shareholders, investors and regulators.
- What
- NSE shares began trading publicly and closed 1.85% above their issue price.
- Where
- On the Bombay Stock Exchange in India.
- When
- Thursday, the first day of trading after the IPO.
- Why
- NSE completed its public listing after an IPO that drew strong investor demand; its earlier listing plans had faced regulatory hurdles.
Key facts
- Listing price
- Rs 1,800
- Issue price
- Rs 1,785 per share
- Closing price
- Rs 1,818, up 1.85%
- Market valuation
- Rs 4,49,955 crore, or about Rs 4.49 lakh crore
- IPO size
- Rs 22,569 crore
- IPO subscription
- Nearly six times on the final bidding day
- Global exchange ranking
- Seventh by market capitalization
- NSE history
- Incorporated in 1992 and recognized by SEBI in April 1993
Sources
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