NSE IPO GMP today: On Day 3, grey market premium stands at 3% - all you need to know
The National Stock Exchange (NSE) IPO has reached its final day of subscription with a grey market premium of 3%. The issue is an offer for sale worth Rs 22,569 crore, with shares expected to list on the BSE on September 24.
Why it matters
As the NSE is a critical piece of India's financial infrastructure, its public listing is a significant event for the domestic capital markets.
NSE IPO GMP: On the last day of the National Stock Exchange of India (NSE) initial public offering (IPO), its grey market premium or GMP was hovering around 3%. Today is the final day of subscription with investors continuing to show steady interest. The GMP points to expectations of a moderate gain when the shares list.By the end of Day 2, the issue had received bids for 1.16 times the 8.86 crore shares on offer. The retail portion, which had 4.41 crore shares reserved for individual investors, was subscribed 72%.The entire Rs 22,569-crore issue comprises an offer for sale (OFS) of 12.64 crore shares by existing shareholders. Since it is completely an OFS, NSE will not receive any money raised through the IPO.
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