- NSE IPO received strong demand, subscribed 5.71 times during September 17-21 period
- The IPO raised Rs 22,568.94 crore through sale of 12.64 crore shares by existing shareholders
- Qualified Institutional Buyers subscribed 12.68 times; Retail investors 1.39 times
The initial public offering (IPO) of the National Stock Exchange of India (NSE) has received robust demand from investors across categories during its subscription period.
The bidding for NSE IPO began on September 17 and closed on September 21. NSE IPO allotment status is expected to be finalised on Tuesday, September 22, and the IPO listing date is September 24.
NSE IPO price band was Rs 1,700-1,785 per share and the company raised Rs 22,568.94 crore from the public issue, which was entirely an offer for sale (OFS) of 12.64 crore equity shares by existing shareholders, with no fresh issue.
The much-awaited public issue was heavily oversubscribed and garnered demand worth more than Rs 90,000 crore.
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Here's a look at NSE IPO Subscription Status
NSE IPO Subscription Status
NSE IPO was subscribed by a strong 5.71 times in total, as the issue received bids for 50,58,11,384 shares as against 8,86,42,911 shares on the offer, BSE data showed. Thus, the total amount of bids received was worth Rs 90,287.33 crore.
The public issue was booked 1.39 times in the Retail Individual Investors category, and 6.55 times in the Non-Institutional Investors (NII) segment. The Qualified Institutional Buyers (QIB) category received 12.68 times subscription.
NSE IPO GMP Today
The trend in the grey market premium (GMP) for NSE shares remains positive. According to websites tracking the unlisted market, NSE IPO GMP today is Rs 67 per share. This indicates that in the grey market, NSE shares were trading higher by Rs 67 apiece than their IPO price.
NSE IPO GMP today signals that the estimated listing price of the stock would be Rs 1,852 apiece, which is at a premium of 3.75% to the issue price of Rs 1,785 per share.
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NSE IPO Valuation
At the upper price band of Rs 1,785, NSE is valued at a post-issue P/E of 35.4x, compared with BSE's P/E of 54.2x, making the issue attractive relative to its key listed peer, according to Angel One.
“NSE's dominant market position, significantly higher revenue and profitability, strong market share in equity derivatives, and long-term structural growth in Indian capital markets provide further comfort,” said the brokerage firm.
Despite near-term regulatory headwinds to derivatives volumes, it believes the valuation offers a favourable entry point given the company's strong competitive position and earnings potential.
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