- Nilesh Shah said NSE is a hallmark of India's capital markets and more such institutions are needed
- NSE shares debuted on September 24 at Rs 1,800 on BSE, a 0.84% premium to the issue price
- The stock rose up to 5.21% from the issue price to a high of Rs 1,878 per share on listing day
NSE is a hallmark of India's capital markets, and the country needs more institutions like the it to evolve, according to Nilesh Shah, MD & CEO of Envision Capital.
Speaking on the sidelines of much-awaited NSE IPO listing, Shah said that the event was closely eyed by the market participants and long-term investors will continue to eye NSE shares.
“If you are a believer of India, believe in NSE,” Shah said, noting that India needs more institutions like NSE to evolve.
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The equity shares of the country's largest bourse – National Stock Exchange of India (NSE) – were listed on Thursday, September 24, after its initial public offering (IPO) received strong demand.
NSE shares were listed at Rs 1,800 apiece on the BSE, a premium of 0.84% to the issue price of Rs 1,785 per share. The stock gained as much as 5.21% from its issue price to a high of Rs 1,878.00 apiece.
NSE IPO was open for subscription from September 17 to September 21 and was subscribed 5.71 times in total, generating bids amounting to Rs 90,287.33 crore as against the issue size of Rs 22,568.94 crore.
Meanwhile, Shah believes the listing of NSE shares will provide more depth and breadth to the Indian stock market.
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