NSE IPO Listing | The NSE IPO is set to make its stock market debut on September 24, with the latest grey market premium (GMP) indicating a modest premium over the issue price.
The ₹22,569 crore initial public offering of the National Stock Exchange of India closed for subscription on September 21. It received bids for around 50.58 crore shares against 8.86 crore shares on offer.
The issue was subscribed 5.71 times overall. The qualified institutional buyers’ portion was subscribed 12.68 times, while the non institutional investor category received 6.55 times subscription. The retail portion was subscribed 1.39 times.
The NSE IPO was offered in a price band of ₹1,700 to ₹1,785 per share. The lot size was fixed at eight shares, requiring a minimum investment of ₹14,280 at the upper end of the price band.
NSE IPO Listing | GMP, Expected Listing Price and Allotment
According to reports, the NSE IPO GMP stood at ₹45.5 on September 22. Against the upper issue price of ₹1,785, this indicated an estimated listing price of around ₹1,830.50.
The implied premium was about 2.55% over the upper end of the issue price. However, GMP is an unofficial market indicator and can change before listing. It does not guarantee the actual listing price.
The basis of allotment was scheduled to be finalised on September 22. Shares were expected to be credited to successful applicants’ demat accounts on September 23, ahead of the September 24 listing.
Investors can check their NSE IPO allotment status through the NSE, BSE or MUFG Intime India platforms. The NSE’s IPO Bid Verification module allows investors to search using their PAN or application number.
The NSE IPO is entirely an offer for sale involving 12.64 crore equity shares. Therefore, the National Stock Exchange itself will not receive proceeds from the issue. The funds, after issue-related expenses, will go to the existing shareholders selling their shares.
The issue also attracted about ₹6,746 crore from anchor investors on September 16 through the allocation of 3.78 crore shares at ₹1,785 apiece.
Grey market indicators remain unofficial, while the actual NSE share price will be determined by market trading after the listing.
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