Author: Nishtha Mehrotra | EQMint
The National Stock Exchange of India (NSE) has attracted more than $10 billion in investor bids in its IPO, underscoring strong demand for the country’s largest stock exchange. The ₹22,561-crore issue was subscribed 5.71 times, with bids received for 505.81 million shares against 88.64 million shares on offer.
Institutional investors led the demand, with the qualified institutional buyer portion subscribed 12.68 times. The non-institutional investor category was subscribed 6.55 times, while the retail portion saw 1.39 subscriptions.
At the upper end of its ₹1,700–₹1,785 price band, NSE’s valuation is estimated at around 42.9 times earnings. This puts its valuation above some major US-listed exchange operators, including Nasdaq.
NSE’s market dominance remains a key factor for investors, with the exchange accounting for a significant share of India’s equity and derivatives trading activity. The strong subscription comes as NSE prepares for its highly anticipated market debut.
Sources: CNBC, Reuters, Business Standard
Disclaimer: This article is for information purposes only and is not investment advice.
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