NSE IPO subscribed 0.43 times on day 1, NII bids highest
The National Stock Exchange's large initial public offering saw limited subscription on its first day. Non-institutional investors placed the most bids, while retail and qualified institutional buyers showed less interest. This offer for sale involves existing shareholders selling their stakes, not raising new capital for the exchange. The subscription period remains open until September…
Mumbai: On the inaugural day of its ₹22,561-crore IPO, the National Stock Exchange (NSE) saw a subscription rate of 0.43 times, with non-institutional investors (NII) leading in bids. A total of 3.70 crore shares were bid for, despite only 8.86 crore shares being available for sale. Qualified institutional buyers (QIBs) contributed 0.19 times, while retail investors made up 0.44 of the subscription.
The retail investor portion followed with 0.44 times. The IPO, an offer for sale (OFS), involves 12.64 crore shares from 10 current shareholders, priced between ₹1,700-1,785 per share. No new shares were issued, meaning NSE would not receive any funds from this IPO. The issue size was reduced by 15% from the initial 14.89 crore shares proposed in the draft red herring prospectus. Over 150 anchor investors, including overseas funds, participated in NSE's share sale on Wednesday.
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