5 hrs ago
NSE Debuts on BSE After Decade-Long IPO Delay
The National Stock Exchange, or NSE, sold shares to the public through an IPO.
Its shares began trading on the Bombay Stock Exchange at Rs 1,800.
That was slightly higher than the IPO price of Rs 1,785.
Later, the shares rose to Rs 1,845.
This gave the exchange a value of about Rs 4,53,123 crore.
Many investors wanted the shares, so the IPO received nearly six times as many bids as shares offered.
Anand Mahindra remembered that NSE began in the 1990s in Mahindra Towers, before moving to its BKC location.
The listing was important because NSE’s IPO plans had been delayed for nearly ten years by regulatory issues.
NSE shares opened at Rs 1,800 on the BSE, above the Rs 1,785 issue price.
The stock later rose to Rs 1,845, giving NSE a valuation of Rs 4,53,123 crore.
The Rs 22,569-crore IPO was nearly six times subscribed, generating about Rs 90,300 crore in demand.
Anand Mahindra recalled that NSE’s first registered office operated from Mahindra Towers in the 1990s.
NSE’s listing followed nearly a decade of delays linked to regulatory hurdles, including the co-location controversy.
- Who
- The National Stock Exchange of India, its existing shareholders, investors, and Anand Mahindra.
- What
- NSE launched its IPO and began trading its shares on the BSE.
- Where
- The shares debuted on the BSE; NSE’s early registered office was in Mahindra Towers before it moved to BKC.
- When
- The shares made their market debut on Thursday; the articles do not specify the date.
- Why
- The IPO enabled NSE to become publicly listed after years of delays related to regulatory hurdles, including the co-location controversy.
Key facts
- Issue price
- Rs 1,785 per share
- Opening price
- Rs 1,800 on the BSE
- Later trading price
- Rs 1,845, up 3.36%
- Market valuation
- Rs 4,53,123 crore at Rs 1,845 per share
- IPO size
- Reported as Rs 22,569 crore; the article also cites an issue size of Rs 22,568 crore
- Subscription
- Nearly six times subscribed on the final bidding day
- Demand generated
- Nearly Rs 90,300 crore
- Offer structure
- Offer for Sale of up to 12.64 crore equity shares by existing shareholders
Quotes
Anand Mahindra
Business leader recalling NSE’s early presence at Mahindra Towers
“Back then, they installed a massive satellite dish on our roof, which to the rest of us Mahindra folks, was just an oversized sculpture!”
businesstoday.in
“That was where India's electronic, screen-based trading revolution was born, before they moved to their iconic BKC home."”
businesstoday.in
Sources
Related news
NSE Shares Debut Higher, Enter India’s Top Ten Companies
NSE Lists After Decade, Marking Landmark Moment for Dalal Street
NSE IPO Makes Muted Debut, Shares Rise Over Five Percent
SEBI Clears NSE’s ₹30,000-Crore IPO After Decade-Long Wait
NSE’s Rs 22,569-Crore IPO Opens With 9% Subscription
NSE Shares Set To Begin Trading On BSE And MSEI
NSE Debuts as Chauhan Calls Exchange Proxy for India’s Growth
SEBI Approves Reforms, Expands PMS and FPI Access
NSE Listing Pushes BSE Turnover to 27-Month High
NSE Listing Lifts BSE Turnover as Shares Gain Modestly
