NSE lists on BSE at 0.84% premium; shares rise over 5% after debut

Mumbai (Maharashtra) [India], September 24 (ANI): Shares of National Stock Exchange of India (NSE) made a muted debut on the BSE on Thursday, listing at Rs 1,800, a 0.84 per cent premium over the issue price of Rs 1,785, before rising to Rs 1,876.70, up 5.14 per cent from the open.
The listing marks NSE’s transition into a publicly traded company, with the exchange making its stock-market debut on the BSE. At the time of reporting, the stock was trading at Rs. 1,866.80 per share.
Speaking at the official listing ceremony, NSE Managing Director and CEO Ashish Kumar Chauhan said more than 34 lakh retail investors had been allotted shares in the IPO.
“We now have a family of 36 lakh people. We are thankful and deeply grateful to the investor community's overwhelming trust in NSE and its mission,” Chauhan said.
NSE Chairperson Srinivas Injeti said the listing marked a new phase for the exchange, while underlining the responsibility that comes with becoming a publicly listed institution.
“When we look back, we are filled with a deep sense of pride. When we look around, we are filled with a deep sense of gratitude. And when we look ahead, we are filled with a deep sense of responsibility and greater accountability,” Injeti said.
The Rs 22,561-crore IPO was subscribed 5.69 times during the September 17-21 bidding period. The issue received bids for 50.40 crore shares against 8.86 crore shares on offer, with qualified institutional buyers showing the strongest demand at 12.68 times subscription.
The IPO comprised an offer for sale of up to 12.64 crore equity shares, meaning the proceeds went to existing shareholders selling their stakes.
BSE Managing Director Sundararaman Ramamurthy, who was earlier associated with NSE for two decades, described the listing as a “dream come true” and said it was a matter of “great pride and honour” for him to host NSE.
Ashish Chauhan also described the listing as “the hour of a new beginning, a new future” and said NSE was at the heart of India’s financial market system.
The IPO is among India's largest public offerings and marks the long-awaited listing of the country's largest stock exchange. NSE had received regulatory clearance to proceed with the public issue after its listing plans had been delayed for several years. (ANI)