NSE sees tepid debut, becomes India's 9th most valued listed firm at Rs 4.63 lakh cr
The National Stock Exchange (NSE) saw a modest market debut, with shares rising slightly above the IPO price to reach a valuation of Rs 4.63 lakh crore. Despite the tepid opening, the exchange is now India's ninth most valuable listed company.
Why it matters
The listing of a major financial exchange is a significant milestone for the Indian capital markets and provides a new benchmark for market valuation.
NSE share price today: Shares of National Stock Exchange (NSE) made a subdued debut on Thursday, opening at Rs 1,800 per share on the BSE. The listing price saw a premium of less than 1% over the IPO price of Rs 1,785.Before the listing, NSE's valuation at the IPO price of Rs 1,785 per share stood at Rs 4.42 lakh crore. By comparison, the market capitalisation of rival BSE is Rs 1.33 lakh crore.NSE market capFollowing the listing, the shares rallied around 3%, and NSE's market capitalisation rose to Rs 4.63 lakh crore. This makes it the ninth-largest listed company in India's stock market. Exchange data showed that NSE has moved ahead of FMCG major HUL and healthcare company Sun Pharmaceuticals.The newly listed exchange is ranked below Reliance Industries, whose market capitalisation stands at Rs 16.77 lakh crore.
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