NSE’s mega IPO crosses full subscription mark with strong institutional demand
The National Stock Exchange of India's IPO has reached full subscription on its second day, driven by strong interest from institutional investors. The offering is an entirely offer-for-sale model, with shares expected to debut on the market on September 24.
Why it matters
As one of India's largest public offerings, the NSE IPO serves as a key indicator of investor confidence in the Indian financial market.
The National Stock Exchange of India’s Rs 22,569-crore initial public offering (IPO) was fully subscribed on the second day of bidding on Friday, driven by strong demand from institutional investors.The IPO received bids for about 8.83 crore shares against 8.86 crore shares on offer by 2:44 pm, according to exchange data cited by Reuters.The issue is one of India’s largest public offerings and is the country’s second-largest IPO after Hyundai Motor India’s Rs 27,870-crore issue in 2024.QIB portion sees strong demandThe Qualified Institutional Buyers (QIB) category, which accounts for up to half of the issue, was subscribed 1.20 times, while the non-institutional investors’ portion was subscribed 1.19 times, according to BSE data.The retail investors’ quota had received 61% subscription.NSE had raised Rs 6,746 crore from anchor investors on Wednesday, with Life Insurance Corporation of India (LIC), Goldman Sachs and Fidelity among the participants.
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