The mega ₹22,569-crore initial public offering of the National Stock Exchange of India (NSE) opened for subscription on Thursday, with the issue getting subscribed 9% so far on the first day of bidding. The IPO received bids for 81,99,336 shares against 8,86,42,911 shares on offer. Retail investors require a minimum investment of ₹13,600 to participate in the stake sale process. The category for non-institutional investors was subscribed 15%, and the portion for retail investors received 12% subscription. LIC invests in NSE The NSE on Wednesday garnered ₹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. NSE floats India’s 2nd largest IPO ever The offering, which comprises an offer-for-sale (OFS) of up to 12.64 crore equity shares by existing shareholders, is India’s second-largest public issue after Hyundai Motor India’s ₹27,870-crore IPO in 2024. NSE IPO price band of ₹1,700-1,785 per equity share The exchange has fixed a price band of ₹1,700-1,785 per equity share for the IPO. It will command a valuation of ₹4.2 lakh crore to ₹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 ₹30,000 crore. At the lower end of the price band, the issue is estimated at around ₹21,494 crore, while at the upper end it would amount to around ₹22,569 crore. The IPO surpassed the ₹21,000-crore offering of LIC in 2022, but remains below Hyundai Motor India’s record issue. 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 NSE, whose listing plans had remained stalled for nearly a decade amid regulatory hurdles, including those linked to the co-location controversy. NSE is expected to make its market debut on September 2 Post navigation Government cuts fuel export duty:₹5 tax cut on diesel and ₹1 on petrol; retail rates to remain unchanged Gold falls by ₹1,036/10 gm to ₹1.51 lakh/10 gm:Silver price falls by ₹2,862/kg becoming ₹9,000 cheaper this month
