2 hrs ago
NSE Set for Debut After Rs 22,569-Crore IPO
The National Stock Exchange of India is about to start trading its own shares.
Its IPO was a way for investors to buy those shares before the listing.
Investors wanted more shares than were available, so the issue was subscribed 5.71 times.
Large institutional investors showed the most interest.
The IPO price was between Rs 1,700 and Rs 1,785 per share.
NSE itself will not receive the money because existing shareholders are selling their shares.
The listing will take place on the BSE and Metropolitan Stock Exchange of India.
Higher oil prices and uncertain global markets could affect how the shares perform on the first day.
National Stock Exchange of India shares are scheduled to begin trading at 10 am on Thursday.
The Rs 22,569-crore IPO was subscribed 5.71 times during bidding from September 17 to 21.
Qualified institutional buyers placed the strongest demand, subscribing to 12.68 times their allotted portion.
The offer-for-sale IPO was priced between Rs 1,700 and Rs 1,785 per share, with proceeds going to existing shareholders.
Higher crude prices and weak global cues could influence the exchange’s first trading session.
- Who
- The National Stock Exchange of India and its existing shareholders are involved, alongside participating investors.
- What
- NSE shares are scheduled to make their stock market debut after a Rs 22,569-crore IPO.
- Where
- The shares will be listed on the BSE and Metropolitan Stock Exchange of India.
- When
- Trading is scheduled to begin at 10 am on Thursday; the IPO bidding took place from September 17 to 21.
- Why
- Existing shareholders are selling their stakes through an offer-for-sale IPO, while the listing comes amid investor focus on market conditions and crude prices.
Key facts
- IPO size
- Rs 22,569 crore
- Subscription
- 5.71 times overall
- Price band
- Rs 1,700-Rs 1,785 per share
- Shares offered
- 8.86 crore shares
- Total bids
- 50.58 crore shares
- Qualified institutional buyers
- 12.68 times subscribed
- Grey market premium
- Around Rs 40 per share, or about 2.24% over the upper price band
Sources
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