IFCI shares rally 6% as NSE IPO buzz lifts sentiment; stock gains 35% in a month
IFCI Share Price: IFCI shares surged over 6% as optimism around the long-awaited NSE IPO boosted investor interest in the state-owned financial services company, which indirectly holds more than 4% of NSE through SHCIL. The stock has rallied nearly 35% in a month, while NSE’s potential IPO valuation and regulatory risks remain key factors for investors.
IFCI shares surged by 6.35% to Rs 102 on the NSE on Friday, buoyed by growing excitement surrounding the exchange's much-anticipated IPO. The state-owned financial services company, which indirectly holds a significant stake in the NSE through its ownership of SHCIL, has seen its stock rally around 35% in the past month. NSE Chairman Tuhin Kanta Pandey recently indicated that the regulator is close to approving NSE's draft prospectus, with the exchange potentially seeking a valuation of up to Rs 5.26 lakh crore.
A successful IPO could brighten the prospects for IFCI's indirect holding, though tighter regulations could pose risks to NSE's trading volumes and market share.
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