- The NSE IPO debuts on September 24 with shares listed on the BSE exchange
- The IPO was subscribed 5.71 times with bids totaling Rs 90,287.33 crore
- Grey market premium fell to Rs 40, indicating a modest listing premium of 2.24%
The public debut of the National Stock Exchange of India Ltd (NSE) on Thursday is likely to remain modest as indicated by the grey market premium (GMP). NSE IPO listing date is today, September 24, and the equity shares of the country's largest bourse will be listed on its rival BSE.
NSE IPO received strong demand from investors during its bidding period from September 17 to September 21. The IPO allotment status was finalised on September 22.
The long-awaited NSE IPO was subscribed by 5.71 times in total, as the issue received bids for 50,58,11,384 equity shares as against 8,86,42,911 shares on the offer. The total amount of bids received amounted to Rs 90,287.33 crore.
Ahead of the NSE IPO listing today, the grey market premium shows a declining trend, signalling the debut at a modest premium.
Here's a look at NSE IPO GMP today:
NSE IPO GMP Today
NSE IPO GMP today has dropped to Rs 40 per share, according to websites tracking the unlisted market. This indicates that in the grey market, NSE shares were trading higher by Rs 40 apiece than their IPO price.
NSE IPO GMP today signals that the estimated listing price of the stock would be Rs 1,825 apiece, which is at a premium of 2.24% to the issue price of Rs 1,785 per share.
NSE IPO price band was Rs 1,700-1,785 per share. 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.
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.
Analysts believe investors with a long-term view should consider accumulating NSE shares gradually rather than trying to time the market.
ALSO READ: NSE IPO Listing Live: Track Listing Price, Share Moves, Investor Response And Market Debut Updates
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