NSE IPO Listing: Shares Rise 5% After Flat Market Debut
· Free Press Journal
Shares of the National Stock Exchange (NSE) made a subdued entry on the stock exchanges on Thursday, listing close to their issue price and matching expectations from the grey market. However, the stock soon climbed over 5% after listing.
Visit playerbros.org for more information.
NSE shares debuted on the Bombay Stock Exchange (BSE) at ₹1,800 apiece, registering a premium of 0.84% over the IPO price of ₹1,785. The stock later surged to ₹1,878 which was over 5.2% higher than the listing price.
Ahead of the listing, the grey market premium (GMP) stood at around ₹38 per share, indicating expectations of a listing price near ₹1,823, or a gain of about 2.13%.
NSE Shares To Trade On Metropolitan Stock Exchange After Strong IPO SubscriptionNSE IPO sees strong investor participation
The ₹22,562-crore initial public offering received bids for 50.58 crore shares against 8.86 crore shares available, resulting in an overall subscription of 5.71 times.
Qualified institutional buyers showed strong interest, subscribing 12.68 times their allocated portion.
The non-institutional investor category was subscribed 6.55 times, while the retail investor segment received bids for 6.13 crore shares against 4.41 crore shares reserved, translating into a subscription of 1.39 times.
The IPO opened for subscription on September 17 and closed on September 21.
The price band was set between ₹1,700 and ₹1,785 per share. The issue consisted entirely of an offer for sale by existing shareholders, with no fresh shares issued by the exchange.
Second-largest IPO after Hyundai Motor India
The NSE public issue became India’s second-largest IPO, following Hyundai Motor India’s ₹27,858.75-crore offering in 2024.
Before the listing, NSE raised ₹6,746 crore from nearly 189 anchor investors. The anchor book included major institutional investors such as Life Insurance Corporation of India, Norway’s Government Pension Fund Global, the Monetary Authority of Singapore, Abu Dhabi Investment Authority and Société Générale, along with several insurers and mutual funds.
Several brokerage firms had recommended subscribing to the issue from a medium- and long-term investment perspective.
The IPO was managed by a consortium of leading financial institutions, including Kotak Capital, JM Financial, Morgan Stanley India, Citigroup, HSBC Securities, JPMorgan India, SBI Capital and other major investment banking firms.