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NSE IPO Sets Retail Allocation Record Amid Strong Subscription
The National Stock Exchange offered shares to the public in an IPO.
The offer was worth Rs 22,569 crore.
People applied for more than five times the number of shares available.
This made it one of India's most popular large IPOs.
Its retail allocation was valued at Rs 7,872 crore, a record according to the report.
Hyundai Motor India's IPO was larger, so NSE ranked second by issue size.
LIC and other large institutional shareholders did not sell shares in the offer.
The IPO was expected to begin trading on BSE on September 24.
The Rs 22,569-crore NSE IPO was subscribed 5.71 times.
Investors bid for 50,58,11,384 shares against 8,86,42,911 shares offered.
The offering created a record retail allocation valued at Rs 7,872 crore.
NSE became India's second-largest IPO by issue size, behind Hyundai Motor India's offering.
The IPO ran from September 17 to September 21 and was expected to list on BSE on September 24.
- Who
- The National Stock Exchange, retail investors, and other investors involved in the IPO.
- What
- NSE completed a Rs 22,569-crore IPO that was subscribed 5.71 times and set a record retail allocation of Rs 7,872 crore.
- Where
- The IPO was expected to list on the Bombay Stock Exchange.
- When
- The IPO ran from September 17 to September 21, with listing expected on September 24.
- Why
- The offering was presented as a limited or token sale, while major institutional shareholders stayed out of the offer.
Key facts
- Issue size
- Rs 22,569 crore
- Overall subscription
- 5.71 times
- Shares offered
- 8,86,42,911 shares
- Shares bid
- 50,58,11,384 shares
- Retail allocation
- Rs 7,872 crore
- Price band
- Rs 1,700-Rs 1,785 per share
- Expected listing
- September 24 on BSE
Sources
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