Home / Business and Economy / NSE IPO Oversubscribed: India's Second-Largest Offer
NSE IPO Oversubscribed: India's Second-Largest Offer
23 Sep
Summary
- Sensex and Nifty indices closed higher on Monday.
- NSE IPO received nearly six times subscription on final day.
- The IPO aims to raise ₹22,569 crore from existing shareholders.
Indian stock markets, including the Sensex and Nifty, experienced a positive trading session on Monday, extending their recent gains. This upward trend was primarily attributed to a decrease in crude oil prices, which positively impacted inflation outlook and corporate margins, alongside a consistent inflow of foreign funds and a favorable global market sentiment.
The National Stock Exchange of India's (NSE) substantial initial public offering (IPO) garnered significant investor interest, achieving nearly six times its subscription target by the close of bidding on Monday. This offering, valued at ₹22,569 crore, is positioned as India's second-largest public issue to date.
The IPO's demand reached approximately ₹90,300 crore against the issue size. Qualified Institutional Buyers showed strong participation, subscribing 12.68 times their allocated portion, followed by non-institutional investors at 6.55 times. Retail investors subscribed 1.39 times.
NSE raised ₹6,746 crore from anchor investors last week, including prominent entities like LIC, Goldman Sachs, and sovereign wealth funds from Singapore, Abu Dhabi, and Norway. The shares are slated for their market debut on September 24, marking a significant milestone for the exchange after a decade of stalled listing plans due to regulatory challenges.
