NSE Joins India’s Top 10 Most Valuable Companies, Shares Jump Over 5% In A Milestone Session
Mumbai: National Stock Exchange of India (NSE) shares rose more than 5% above their IPO issue price during Thursday’s trading, lifting the newly listed exchange into the country’s 10 most valuable companies by market capitalisation. The stock opened at ₹1,800 on the BSE, a modest 0.84% premium to its issue price of ₹1,785. It later climbed to ₹1,878, a gain of 5.21% over the issue price. NSE…
Mumbai: The National Stock Exchange of India (NSE) experienced a significant surge in its share price during its debut trading session on Thursday, propelling the exchange into the country's top 10 most valuable companies based on market capitalization. Initially priced at ₹1,785 in the BSE IPO, the NSE shares opened at ₹1,800, marking a modest 0.84% premium over the issue price. Throughout the trading day, the stock climbed to ₹1,878, representing a substantial 5.21% increase from the initial issue price.
As of the market valuation of ₹4,54,966.88 crore, NSE secured the tenth spot among the companies listed on the BSE, narrowly surpassing Hindustan Unilever, which was valued at ₹4,54,845.62 crore. Other notable companies with higher market capitalizations included Reliance Industries at ₹16,67,750.07 crore, Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro, and LIC.
The valuation gap between NSE and Hindustan Unilever stood at approximately ₹121 crore, making the tenth-place ranking vulnerable to further fluctuations in the share price.
NSE's initial public offering (IPO) of ₹22,569 crore was subscribed nearly six times the final day of bidding on Monday, garnering strong support from institutional investors. The bidding reached nearly ₹90,300 crore, as reported. The NSE IPO comprised an offer for sale of up to 12.64 crore shares by existing shareholders, with the price band set at ₹1,700–₹1,785 per share.
The IPO marked India's second-largest issuance, behind Hyundai Motor India's ₹27,870-crore offering in 2024 and ahead of LIC's ₹21,000-crore offering in 2022. NSE's market debut followed a decade-long delay in listing plans, stemming from regulatory hurdles, including the contentious co-location issue. Established in 1992 and commencing operations in 1994, NSE's successful IPO underscores its growing prominence in India's financial landscape.
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