NSE IPO subscribed 5.71 times as institutional demand surges

The IPO of the National Stock Exchange of India (NSE) saw a robust response from investors, with subscriptions reaching 5.71 times the available shares. This surge in demand was primarily fueled by qualified institutional buyers (QIBs) and non-institutional investors (NIIs). Investors bid for 505.81 million shares, while only 88.64 million shares were available.

The issue size was set at ₹22,568.94 crore, within the range of ₹1,700-1,785 per share. QIBs led the subscription, subscribing 12.68 times the allotted shares of 25.21 million, while NII subscriptions stood at 6.55 times the offered 18.90 million shares. Retail investors, who initially lagged in participation, managed to secure 1.39 times the reserved shares of 44.10 million on the final day.

The NSE IPO, which opened on September 17, consisted of an Offer For Sale of up to 126.44 million shares by existing shareholders, with no fresh issue of shares. The exchange, aiming to list its shares on the BSE on September 24, had been awaiting regulatory clearances, which were finally granted in September, clearing the path for the IPO.