National Stock Exchange's $2.3-billion IPO opens for subscription
NSE allotted shares worth $703.04 million to marquee global and domestic investors, including the sovereign wealth funds of Norway and Abu Dhabi, as part of its anchor book allocation ahead of the issue
The National Stock Exchange of India Ltd launched its ₹22,569 crore ($2.3 billion) initial public offering on Thursday. As of 10:20 a.m. IST, the issue had been subscribed 0.09 times. This $2.3-billion IPO ranks among India's largest-ever public offerings. The primary market is currently attracting major issuers, such as Jio Platforms, a company backed by billionaire Mukesh Ambani, which is set to list by the end of the year.
The National Stock Exchange's float marks the culmination of a decade-long endeavor, with regulatory scrutiny and legal issues delaying its listing for so long. On Wednesday, the stock exchange operator allocated shares worth $703.04 million to prominent global and domestic investors, including Norway and Abu Dhabi's sovereign wealth funds, as part of the IPO's anchor book allocation.
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