NSE IPO subscribed 5.7 times as bidding ends, shares to list on September 24

The $2.3 billion initial public offering (IPO) of the National Stock Exchange of India (NSE) saw a subscription rate of 5.7 times the shares available for bidding. Investors placed bids for five times the available shares, with a total of 502.69 million shares across the entire IPO. The price band for the IPO was set between Rs 1,700-1,785 per share, resulting in a valuation of up to Rs 4.42 lakh crore.

The final subscription amount may change as bid details are updated until 7 pm. NSE shares will begin trading on September 24, concluding a decade of effort by India's largest stock exchange operator to enter the public markets. The IPO received strong institutional demand, with the portion reserved for qualified institutional buyers being subscribed 7.99 times and the retail portion 1.13 times.