NSE IPO Day 2: After 43% subscription on first day, what brokerages are saying
The National Stock Exchange of India's IPO has entered its second day with a 43% subscription rate and an 8% grey market premium. The offering is an offer for sale of 12.64 crore shares, with a price band set between Rs 1,700 and Rs 1,785.
Why it matters
As India's second-largest IPO to date, it serves as a significant indicator of investor sentiment toward the Indian financial market infrastructure.
NSE IPO Day 2: National Stock Exchange of India IPO, India’s second largest till date, enters its second day of subscription with a grey market premium (GMP) of around 8%, pointing to expectations of a moderate gain when the shares list.On the first day, the issue was subscribed 43% overall, with bids received against the 8.86 crore shares on offer. Retail investors subscribed to 44% of the 4.41 crore shares reserved for them.The IPO is an offer for sale (OFS) of 12.64 crore shares, which means that NSE will not receive any money raised through the issue. The proceeds will go to the existing shareholders selling their stakes.
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