NSE IPO subscribed 43% on the first day of bidding, QIBs' share 19%

The ₹22,560 crore IPO received bids for 38 million shares against 88.6 million on offer, with the non-institutional investor portion subscribed 72 per cent

The initial public offering (IPO) of the National Stock Exchange of India (NSE) was subscribed 43 per cent on Thursday, the first day of bidding, according to the details on the BSE, with bids for 38 million shares against 88.6 million shares on offer.

The qualified institutional buyers (QIB) category, which typically sees the sharpest pick-up closer to issue close, was subscribed just 19 per cent, with mutual funds accounting for the bulk of institutional bids received so far, followed by foreign institutional investors.

The non-institutional investors (NIIs) led the demand, subscribing 72 per cent of their reserved portion of 18.9 million shares, with bids for 13.6 million shares.

Retail individual investors bid for 19.3 million shares against a reserved quota of 44.1 million shares, translating into 44 per cent subscription while the employee reservation portion was subscribed 96 per cent.