NSE's ₹22,569-crore IPO is the largest among four mega issues that changed their original size
MSE will admit NSE shares under the 'permitted to trade' category from September 24, a move industry experts say could help bring additional volumes to the exchange
Institutional portion subscribed 12.68 times; retail crosses quota
The ₹22,560 crore IPO received bids for 38 million shares against 88.6 million on offer, with the non-institutional investor portion subscribed 72 per cent
NSE IPO subscription status, GMP today: NSE has set a price band of ₹1,700-1,785 per share, with a face value of ₹ 1. In the grey market, NSE shares are trading at a premium of up to 9 per cent.
Analysts said that NSE's rich valuation is justified by its strong leadership position, supported by aliquid marketplace & powerful network effects arising from the country's structural market growth.
NSE's Ashishkumar Chauhan said demand for the IPO significantly exceeded shares available, while the anchor book was reduced from about ₹9,000 crore to over ₹6,000 crore
The operator of the world's busiest derivatives market accounted for roughly half of the trading volume in the shadow market, according to an estimate by trading platform UnlistedZone
NSE IPO takes centre stage as primary market activity heats up
NSE IPO price band: The upper end of the IPO price band, ₹1,785, is around 26 per cent lower than the record high of around ₹2,400 and 6 per cent below the current unlisted market price of ₹1,990.
The offer-for-sale, which does not include any fresh capital being raised, will value NSE at close to $46 billion, which would make it the country's third-largest IPO
NSE IPO price band: The National Stock Exchange (NSE) has set the price band at ₹1,700-1,785 per share for its much-awaited IPO.
Investors raised concerns over NSE's growth prospects after regulatory curbs cooled India's derivatives market, forcing the exchange to lower its maximum IPO valuation target ahead of listing
The OFS-only issue may be smaller than earlier envisaged as some shareholders prefer to wait for a potentially better price after listing, sources said
The size of the National Stock Exchange (NSE) IPO may shrink with the offer for sale (OFS) likely to be cut to 5.2-5.5 per cent, from the 6 per cent planned earlier, as some shareholders have backed out of the sale, people familiar with the matter said on Wednesday. The reduced OFS could bring down the overall issue size to Rs 25,000-27,000 crore, compared with the earlier estimate of Rs 30,000 crore.At this size, NSE may fall short of becoming India's largest-ever public offering. Hyundai Motor India's IPO, at Rs 27,870 crore, currently holds the record. The reduction in the OFS size is understood to be driven by some shareholders choosing not to sell during the IPO, as they believe they could command a better valuation by selling their stake at a later stage, thepeople familiar with the matter said. The NSE is also looking to make the issue more attractive for retail investors, with pricing being structured to provide greater participation and benefit to small investors in the OFS
At the top of the proposed range, the sale of a 5.5% stake would raise about ₹24,300 crore, below the ₹27,900 crore raised by Hyundai Motor India Ltd. in 2024 in the country's largest-ever IPO
NSE IPO price band: Based on current market indications, analysts say that the price could be in the ₹1,800 to ₹2,200 range per share.
Sources say the IPO may open for subscription by September 15, with listing eyed around September 25
The move brings the pre-open process in line with the Closing Auction Session framework, creating a more consistent auction structure around price discovery at the start and close of the trading day
State Bank of India (SBI) and its subsidiary SBI Capital Markets Ltd together plan to dilute up to 1 per cent stake in the National Stock Exchange (NSE) through the exchange's proposed Rs 30,000-crore initial public offering (IPO). The bank is participating in the NSE IPO and will dilute a 0.65 per cent stake in the exchange, SBI Chairman C S Setty told PTI in an interview. "We are participating in that divestment. We propose to divest 0.65 per cent and 0.35 per cent by SBI Capital Markets because both of us hold the stake. So together, about 1 per cent as a SBI group... it could be less depending on any other shareholders joining," he said. SBI currently holds a 3.23 per cent stake in the NSE, while SBI Capital Markets owns 4.33 per cent in the country's largest stock exchange. He clarified that there is no the monetisation plan for other subsidiaries in the immediate future. Last month, SBI, along with its foreign partner Paris-headquartered Amundi, diluted around 10 per cent st