National Stock Exchange’s initial public offering was subscribed 1.47 times as of 10:41 AM on the final day of bidding. The IPO received bids for 12.99 crore shares against 8.86 crore shares on offer. NSE IPO size stands at ₹22,561-crore. The category for non-institutional investors was subscribed 2.34 times, and the portion for retail investors was subscribed 0.88 times.
Meanwhile, qualified institutional buyers’ subscription stood at 1.83 timesThe NSE IPO opened for subscription on Thursday (September 17) and will remain open till Monday, (September 21). The exchange has set a price band of ₹1,700-1,785 per share. Notably, NSE’s IPO is the country's second-largest public issue after Hyundai Motor India's ₹27,870-crore offering in 2024.
The minimum lot size for retail investors is 8 shares, requiring a minimum amount of ₹14,280 at the upper price band. According to several websites that track grey market activity, NSE shares are currently trading at ₹1,841, implying a grey market premium (GMP) of ₹56 over the upper end of the price band.
NSE IPO detailsNSE IPO is a book build issue of ₹22,561.57 crore. The issue is entirely an offer for sale (OFS) of 12.64 crore shares of ₹22,561.57 crore. OFS means none of the proceeds will go to the exchange as investors offload their stakes. Around 50 per cent of the estimated ₹21,494-22,567-crore IPO is reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs), and 35 per cent for retail investors.
NSE shares will be credited on September 23, with listing scheduled for September 24. The book-running lead managers for the NSE’s IPO are Kotak Capital, JM Financial, Morgan Stanley India, Citigroup, HSBC Securities, JPMorgan India, SBI Capital, Anand Rathi Advisors, Avendus Capital, Axis Capital, DAM Capital, Equirus Capital, HDFC Bank, ICICI Securities, IDBI Capital, IIFL Capital, Motilal Oswal, Nuvama Wealth, Pantomath Capital and 360 ONE WAM