Datanomics: NSE becomes fourth mega IPO to alter issue size since FY05

NSE's ₹22,569-crore IPO is the largest among four mega issues that changed their original size

The National Stock Exchange (NSE) shares are set to list on bourses on Thursday. The NSE is the fourth of 21 firms with offerings exceeding Rs 5,000 crore to alter its original initial public offering (IPO) size since 2004-05 (FY05). The NSE IPO would now mop up Rs 22,568.94 crore — the largest among the four mega IPOs — although the number of shares offered was cut by 15.09 per cent from the planned 148.91 million to 126.44 million. Earlier, the government cut LIC issue size (in volume terms) by 30 per cent in FY23, and Reliance Power slashed its by 80 per cent in FY08. ICICI Prudential Asset Management took the opposite route in FY26, increasing the number of shares offered by 176.8 per cent. Of these three IPOs, only ICICI Prudential Asset Management’s shares closed above the issue price on the NSE on Wednesday.