- NSE received permission to trade on the Metropolitan Stock Exchange from Sept 24
- NSE IPO opened on Sept 17 and will close on Sept 21 with allotment on Sept 22
- NSE IPO was subscribed 5.71 times by the final day and fully subscribed on Sept 18
The National Stock Exchange of India (NSE) has received permission to trade on the Metropolitan Stock Exchange of India (MSE), with the permission coming into effect from Sept. 24. NSE will be permitted to commence trading on MSE from Sept. 24, marking an expansion of its trading access across stock market platforms.
The development comes as exchanges continue to facilitate broader market participation and connectivity across India's capital market ecosystem.
Further details on the scope of trading and the segments covered were not immediately available in the announcement.
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NSE IPO opened for public subscription on Sept. 17, Thursday, and will close on Sept. 21, Monday. The IPO allotment date likely Sept. 22, and the IPO listing date is expected to be on Sept. 24.
NSE IPO was subscribed 5.71 times on the final day. The issue was fully subscribed on its second day of bidding on Friday, September 18.
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NSE shares will be list on its rival BSE, which is its only one listed peer. BSE itself is listed on NSE and is included in key Nifty indices. NSE IPO price band has been set at Rs 1,700 to Rs 1,785 per share. The IPO lot size is 8 shares, and the minimum investment amount required by a Retail individual investor is Rs 14,280, based on upper price.
At the upper end of the price band, the NSE IPO size comes in at Rs 22,568.94 crore, which will be the second largest IPO in India so far. The issue is entirely an offer for sale (OFS) of 12.64 crore equity shares by existing shareholders and does not include any fresh capital being raised. Hence, the bourse will not receive any issue proceeds.
The issue will value NSE more than Rs 4.41 lakh crore, placing it among one of the most valued companies in the Indian stock market.
Kotak Mahindra Capital Co. Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the NSE IPO registrar.
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