NSE sees tepid debut, becomes India's 9th most valued listed firm at Rs 4.63 lakh cr
Before the listing, NSE's valuation at the IPO price of Rs 1,785 per share stood at Rs 4.42 lakh crore. By comparison, the market capitalisation of rival BSE is Rs 1.33 lakh crore.
The National Stock Exchange (NSE) experienced a subdued opening on Thursday, with shares trading at Rs 1,800 each on the Bombay Stock Exchange (BSE). This marked a premium of less than 1% over the IPO price of Rs 1,785 per share. Prior to the listing, NSE's valuation at the IPO price stood at Rs 4.42 lakh crore, whereas rival BSE's market capitalisation was Rs 1.33 lakh crore.
Following the listing, shares surged by around 3%, elevating NSE's market capitalisation to Rs 4.63 lakh crore, positioning it as the ninth-largest listed company in India's stock market. This milestone places NSE ahead of FMCG giant Hindustan Unilever (HUL) and healthcare company Sun Pharmaceuticals. Currently, NSE trails behemoth Reliance Industries, valued at Rs 16.77 lakh crore, followed by HDFC Bank at Rs 11.25 lakh crore.
Other companies that surpass NSE in market cap include Bharti Airtel, ICICI Bank, SBI, TCS, Bajaj Finance, and LT, according to stock exchange data reported by ET. Despite the tepid debut, market participants expressed optimism that NSE's share movement in initial trading sessions could be influenced by the balance between demand and available supply.
Restrictions on exits for prominent shareholders might limit immediate supply, potentially bolstering the stock's value in the long run.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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