Mumbai The shares of National Stock Exchange NSE, which was in discussion as the second largest IPO of the country, have entered the stock market. This IPO of Rs 22,569 crore was subscribed almost six times on the last day of bidding. Strong demand from institutional investors provided good support to the IPO. Now investors are keeping an eye on how NSE shares perform after listing.
NSE shares came at the issue price of Rs 1,785
National Stock Exchange of India Limited NSE shares were listed on BSE on Thursday at a price of Rs 1,800. Its issue price was Rs 1,785. That means the share was listed at a premium of about 0.84 percent. After the listing, there was a rise in the stock and during trading it increased by 3.36 percent to reach Rs 1,845. The market valuation of NSE at this level was around Rs 4,53,123 crore.
NSE listing happened at a time when the market was under pressure
There was pressure in the domestic stock market on the day of NSE listing. Sensex and Nifty recorded a big fall in early trade as the price of crude oil crossed the level of $ 100 per barrel. BSE Sensex fell 632.68 points to 74,189.55 in early trade. At the same time, NSE Nifty was seen falling 216.15 points and trading at 23,222.55 points.
These big stocks also declined
Among the 30 companies included in the Sensex, Bajaj Finance's share fell by 4.75 percent and Bajaj Finserv's share fell by 3.49 percent. Shares of Axis Bank, InterGlobe Aviation, Kotak Mahindra Bank and HDFC Bank also witnessed major losses. However, there was buying trend in some stocks. Shares of Tech Mahindra, Sun Pharma, HCL Tech, ICICI Bank and Tata Consultancy Services were among the gainers.
Brent crude crosses $100, increases market concerns
Brent crude, the international oil benchmark, was trading down 0.90 percent, but its price was still above $100 a barrel. Brent crude was trading at around $102.2 per barrel. There was a mixed trend in Asian markets also. The Nikkei 225 was in gains, while China's SSE Composite and Hong Kong's Hang Seng were trading in decline.
Buying by foreign investors continues
US markets closed with a decline on Wednesday. However, buying by foreign institutional investors (FIIs) was seen in the Indian market. According to stock market data, FIIs made net purchases of shares worth Rs 1,617.45 crore on Wednesday. Earlier on Wednesday, the Sensex had increased by 299.17 points and closed at 74,828.25 points. Nifty also rose by 117.80 points to reach 23,446.80 points.
The country's second largest IPO
NSE's Rs 22,569 crore IPO was the second largest public offering in the country. It was the second largest IPO in the country after Hyundai Motor India's Rs 27,870 crore IPO in 2024. NSE's IPO also overtook the Rs 21,000 crore IPO of Life Insurance Corporation of India LIC in 2022.
Price band was Rs 1,700 to Rs 1,785
The price range for the NSE IPO was fixed at Rs 1,700 to Rs 1,785 per share. On the last day of bidding, the issue received nearly six times subscription, in which demand from institutional investors played an important role.
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