NSE IPO Subscribed 90% So Far on Day 2

New Delhi: The mega Rs 22,569 crore initial public offering of the National Stock Exchange of India (NSE) received 90 per cent subscription so far on the second day of bidding on Friday.

The NSE IPO received bids for 8,00,16,168 shares against 8,86,42,911 shares on offer, as per data available with the BSE till 12:50 PM.

The category for Qualified Institutional Buyers (QIBs) was subscribed 1.20 times, while the non-institutional investors portion garnered 1.19 times subscription. The retail investors quota received 61 per cent subscription.

The offering is India’s second-largest public issue after Hyundai Motor India’s Rs 27,870 crore IPO in 2024.

The NSE on Wednesday raised Rs 6,746 crore from anchor investors, including state-owned Life Insurance Corporation of India (LIC), Goldman Sachs and Fidelity.

Additionally, sovereign wealth funds GIC Singapore, Abu Dhabi Investment Authority (ADIA) and Norges Bank, as well as Eastspring and HSBC Global Asset Management also participated in the anchor round.

The IPO comprises an Offer For Sale (OFS) of up to 12.64 crore equity shares by existing shareholders.

The exchange has fixed a price band of Rs 1,700-1,785 per equity share for the IPO. It will command a valuation of up to Rs 4.42 lakh crore at the upper end of the price band.

The issue will close on September 21.

The reduction in the OFS size from the earlier planned 14.9 crore shares has brought down the overall issue size from the initial estimate of around Rs 30,000 crore. At the lower end of the price band, the issue is estimated at around Rs 21,494 crore, while at the upper end it would amount to around Rs 22,569 crore.

The IPO surpassed the Rs 21,000 crore offering of LIC in 2022, but remains below Hyundai Motor India’s record public offer.

Since the offering is entirely an OFS, the proceeds from the share sale will accrue to the existing shareholders and not to the NSE.

The public issue marks a significant milestone for the NSE, whose listing plans had remained stalled for nearly a decade amid regulatory hurdles, including those linked to the co-location controversy.

NSE shares are expected to make their market debut on September 24.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)