NSE IPO subscription status: National Stock Exchange of India (NSE)’s initial public offering was fully subscribed on Friday, the second day of bidding, with non-institutional investors and qualified institutional buyers driving demand.The Rs 22,569-crore IPO has become India’s second-largest public issue, behind Hyundai Motor India’s Rs 27,870-crore offering in 2024. It has also moved past LIC’s Rs 21,000-crore IPO of 2022, but remains smaller than Hyundai Motor India’s record issue.
NSE IPO Fully Subscribed
According to data available with the BSE, investors had placed bids for 10,28,43,656 shares against the 8,86,42,911 shares offered, taking overall subscription to 1.16 times.Both the non-institutional investor and qualified institutional buyer categories were fully subscribed on the second day.The NII portion received bids for 1.68 times the shares available, while the QIB category was subscribed 1.53 times. Retail investors, meanwhile, subscribed to 72% of the shares reserved for them.Before the IPO opened, NSE raised Rs 6,746 crore from anchor investors on Wednesday. The anchor book included state-owned Life Insurance Corporation of India (LIC), Goldman Sachs and Fidelity.GIC Singapore, Abu Dhabi Investment Authority (ADIA) and Norges Bank also participated, along with Eastspring and HSBC Global Asset Management.
NSE TO List Next Week
The IPO is entirely an Offer For Sale (OFS), under which existing shareholders are offering up to 12.64 crore equity shares. NSE has set the issue price band at Rs 1,700-1,785 per share, giving the exchange a valuation of up to Rs 4.42 lakh crore at the upper end.The issue will remain open until September 21.As the offering is an OFS, NSE will not receive any of the proceeds generated through the share sale. The money will accrue to the existing shareholders selling their stakes.The IPO represents a major milestone for NSE after its plans to list had remained stalled for nearly a decade amid regulatory hurdles, including those associated with the co-location controversy.The size of the issue has also been reduced from the earlier proposal to sell 14.9 crore shares, bringing the offering down from the initial estimate of around Rs 30,000 crore.NSE shares are expected to begin trading on September 24.(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
