The National Stock Exchange of India (NSE) has become the tenth most valuable listed company in the country after its market capitalisation surged past Rs 4.5 lakh crore soon after the listing.
NSE shares made a muted Dalal Street debut on Thursday, September 24. The stock was listed at Rs 1,800 apiece on the BSE, a modest premium of 0.84% to the issue price of Rs 1,785 per share. NSE's market capitalisation after listing stood at around Rs 4,45,500 crore.
However, NSE shares rallied over 5% after the listing and hit an intraday high of Rs 1,878 apiece. Following the rally, NSE's market-cap crossed Rs 4.56 lakh crore, making it the tenth most valued listed company in India.
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Peer BSE has a market valuation of aroudn Rs 1.31 lakh crore.
NSE has surpassed major companies like Hindustan Unilever Ltd (HUL), Sun Pharmaceutical Industries and Titan Company in terms of market cap.
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NSE IPO was open for subscription from September 17 to September 21 and was subscribed by a strong 5.71 times in total. It attracted bids amounting to Rs 90,287.33 crore as against the issue size of Rs 22,568.94 crore.
NSE IPO was the second-largest public issue in India after Hyundai Motor India's Rs 27,870-crore IPO in 2024.
LIC IPO in 2022 was worth Rs 21,000 crore, the third biggest issue so far.
However, Hyundai Motor India shares and Life Insurance Corporation of India (LIC) shares were listed at a discount. In contrast, NSE shares listed at a nearly 1% premium.
Meanwhile, the rally in NSE shares comes even as the Indian stock market crashed today, with both the benchmark indices slumping 1.6% each. The BSE Sensex cracked over 1,100 points and the NSE Nifty 50 slipped below 23,100 level.
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