Business
NSE shares rise 5.2% after Rs 1,800 debut
The Hindu BusinessLine··2d ago
National Stock Exchange shares rose 5.2 percent on Thursday after a near-flat debut on the BSE. The stock opened at Rs 1,800, a 0.84 percent premium to the Rs 1,785 IPO price. It later traded at Rs 1,861.80, with market capitalisation at Rs 4.60 lakh crore. The Rs 22,569-crore offering received nearly 6 times overall subscription from investors.
Prism
What It Means For You
- NSE equity is now trading on the BSE after the Rs 22,569-crore offer for sale listing.
- Early trade moved from the Rs 1,800 open toward Rs 1,861.80 by 10.28 am.
- The IPO was an offer for sale of up to 12.64 crore shares by existing shareholders.
What's Happening
- NSE opened at a 0.84 percent premium to the issue price before climbing as high as Rs 1,878.
- Overall subscription was nearly 6 times for India's second-largest IPO.
- Abhinav Tiwari of Bonanza said the shareholder base rose from about 2 lakh before the IPO to nearly 36 lakh after listing.
What the IPO sold
- The issue was entirely an Offer for Sale by existing shareholders, not a fresh equity raise.
- Analysts cited NSE cash-segment share near 93 percent and equity-futures share near 99.8 percent.
- BSE India posted video of the listing ceremony on September 24.
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