NSE IPO oversubscribed 1.10 times on day 2, sees strong demand

The National Stock Exchange's IPO was oversubscribed 1.10 times on its second day. Strong demand from qualified institutional buyers, non-institutional investors, and employees drove the subscription, while the retail portion remained undersubscribed.

The initial public offering (IPO) of the National Stock Exchange (NSE) was oversubscribed 1.10 times on the second day of bidding, with investors placing bids for 9.73 crore shares against 8.86 crore shares offered, according to subscription data available on NSE’s website as of 1606 IST. The overall subscription stood at 1.10 times, with demand from qualified institutional buyers (QIBs), non-institutional investors (NIIs) and employees taking their respective portions above full subscription, while the retail portion remained below full subscription.

IPO Details

The NSE IPO is an offer for sale (OFS) of up to 12.64 crore equity shares, with a price band of Rs 1,700-1,785 per share. The issue opened for public subscription on September 17 and will close on September 21. The IPO is entirely an offer for sale by existing shareholders, meaning NSE will not receive proceeds from the issue.

Category-wise Subscription Breakdown

The portion for qualified institutional buyers was subscribed 1.43 times, with bids for 3.61 crore shares against 2.52 crore shares reserved for the category. Domestic financial institutions, including banks, financial institutions and insurance companies, placed bids for 2.55 crore shares, while foreign institutional investors bid for 30.77 lakh shares. Mutual funds bid for 28.03 lakh shares, while other investors placed bids for 47.30 lakh shares.

The NII category was subscribed 1.58 times, receiving bids for 2.98 crore shares against 1.89 crore shares reserved for the segment.

The retail individual investor (RII) category was subscribed 0.70 times, with bids for 3.08 crore shares against 4.41 crore shares offered. Of the total retail bids, 2.79 crore shares were placed through the cut-off route, while 28.83 lakh shares were bid at specific prices.

The employee category was subscribed 1.48 times, with bids for 6.40 lakh shares against 4.33 lakh shares reserved for employees.

Day 1 Bidding Status

At the end of the first day of bidding, the IPO had been subscribed 54 per cent, with bids for 4.81 crore shares against 8.86 crore shares offered. (ANI)

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