NSE shares slip below IPO price after lackluster India debut

Shares of the National Stock Exchange of India Ltd. (NSE) have slipped below their initial public offering (IPO) price on the third day of trading, signaling a lackluster start for the world's busiest derivatives exchange. The stock fell as much as 1.8 per cent to ₹1,761 on Monday, below the IPO price of ₹1,785. The IPO, India's second-biggest after Hyundai Motor India Ltd.'s ₹27,860 crore offering in 2024, drew a relatively subdued response, particularly from retail investors.

The main book attracted bids worth less than ₹1 lakh crore, with state-run Life Insurance Corp. of India emerging as the biggest bidder. Analysts have flagged near-term pressure on NSE's cash equities, derivatives, and margin-trading volumes, with the recently introduced Closing Auction Session weighing on broader trading activity.

Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.