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NSE lists at Rs 1,800, climbs to Rs 1,845
Hindustan Times··2d ago
NSE shares debuted at Rs 1,800 on Thursday, 0.84 percent above the Rs 1,785 issue price. They later rose 3.36 percent to Rs 1,845 on the BSE. Market valuation stood at Rs 4,53,123 crore. The Rs 22,569-crore IPO drew nearly six times subscription and surpassed the LIC offer of Rs 21,000 crore in 2022. Demand reached nearly Rs 90,300 crore.
Prism
What It Means For You
- Investors who bought at the Rs 1,785 issue price saw an early premium to Rs 1,845 in trade.
- The IPO generated nearly Rs 90,300 crore of demand against a Rs 22,568 crore issue size.
- The price band for the offer was Rs 1,700 to Rs 1,785 per share.
What's Happening
- Trading began on the BSE with a modest 0.84 percent open premium, then extended to 3.36 percent.
- Hindustan Times called the offer India's second-largest IPO after Hyundai Motor India's Rs 27,870-crore issue in 2024.
- It surpassed LIC's Rs 21,000 crore offering in 2022.
Why listing took years
- NSE listing plans had been stalled for nearly a decade amid regulatory hurdles, including the co-location controversy.
- The public issue was an Offer for Sale of up to 12.64 crore equity shares by existing shareholders.
- Strong institutional demand drove the nearly six-times subscription on the final bidding day.
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