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Why NSE IPO Became India's Second-Largest, Not Biggest
The National Stock Exchange of India planned to sell shares to the public.
At first, people expected its IPO to be India’s biggest ever.
The expected size was nearly ₹30,000 crore.
But merchant bankers suggested using a lower price.
Some existing shareholders then agreed to sell fewer shares.
This reduced the IPO size to ₹22,562 crore.
As a result, it became the second-largest IPO instead of the biggest.
Investors still showed strong interest, with demand exceeding the shares offered by more than five times.
NSE shares were scheduled to begin trading on Thursday.
The NSE IPO was priced at an issue size of ₹22,562 crore, making it India’s second-largest IPO.
It was initially expected to raise nearly ₹30,000 crore and surpass Hyundai Motor India’s ₹27,858.75 crore IPO.
Merchant bankers advised a lower price, prompting some selling shareholders to reduce their offers.
The portion offered by selling shareholders fell from 6.2% to 5.11%.
The IPO attracted ₹90,200 crore in demand and was subscribed 5.71 times overall.
- Who
- The National Stock Exchange of India and its MD and CEO, Ashishkumar Chauhan, along with its selling shareholders.
- What
- The NSE launched a ₹22,562 crore IPO that became India’s second-largest rather than its biggest.
- Where
- The IPO details were discussed at the Taj Man Singh hotel in New Delhi.
- When
- The IPO’s final bidding day was reported before NSE shares were scheduled to begin trading on Thursday.
- Why
- Merchant bankers advised a lower price, and some selling shareholders reduced the number of shares they offered.
Key facts
- IPO issuer
- National Stock Exchange of India
- Final issue size
- ₹22,562 crore
- Initially expected size
- Nearly ₹30,000 crore
- Overall subscription
- 5.71 times
- Total applications
- 38.5 lakh
- Total demand
- More than ₹90,200 crore
- Shareholder offer
- Reduced from 6.2% to 5.11%
Sources
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