NSE IPO Opens With Price Band Set at Rs 1,700 to Rs 1,785
· Business · India Today, Economic Times
The initial public offering of the National Stock Exchange of India opened for subscription on September 17, valuing the massive share sale at Rs 22,561.57 crore. The issue consists entirely of an offer for sale of 12.64 crore shares by existing shareholders, meaning the exchange will not receive direct proceeds. The price band is fixed at Rs 1,700 to Rs 1,785 per share with a market lot size of eight shares. Ahead of the opening, the grey market premium fell sharply to Rs 125, down 43 percent from Rs 218 recorded on September 11. Bidding for the public offering remains open until September 21, with tentative listing scheduled for September 24 on the BSE.
Why it matters
As one of the country's largest public offerings, the NSE listing tests retail and institutional investor appetite for market infrastructure stocks amid shifting grey market sentiment.
Read the original report — India Today
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