NSE IPO bidding game starts and GMP sends signal
The NSE IPO opened for subscription on Thursday, marking one of India's most anticipated public issues in its capital market history. The grey market premium (GMP) for the NSE IPO is currently around 7%, indicating a positive sentiment in the unlisted market. The issue is for a Rs 22,569 crore offering of 12.64 crore shares, with no proceeds expected to be received by NSE.
The price band is set at Rs 1,700-1,785 per share, with a minimum retail application of Rs 14,280 and a post-issue market capitalisation of about Rs 4,41,788 crore. The IPO closes on September 21, with the stock expected to list on the BSE on September 24. Analysts say the IPO offers a rare chance to invest in India's dominant market infrastructure company, but investors should be aware of valuation and regulatory risks.
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