The New Indian Express ·
GMP signals strong debut for NSE, ending big IPO slump
The shares of the National Stock Exchange (NSE) are holding steady in the unlisted market, indicating that the country’s second-largest IPO could break the curse of poor listing gains, as four of the 5 biggest IPOs have delivered either negative or muted returns on debut.
NSE shares are commanding a grey market premium of Rs 218 or 12% in the unofficial market as of Monday, according to market observers. This indicates the stock could hit the bourses at around Rs 2,000 per share given its initial share sale price band is fixed at Rs 1700 to Rs 1785 per share.
Last week, the country's largest stock exchange trimmed down its IPO size to Rs 22,569 crore, making it the country's second-largest public issue after Hyundai Motor India's Rs 27,870-crore offering in 2024. The IPO, which will open for subscription on September 17, is entirely an offer for sale (OFS) of up to 12.64 crore equity shares by existing shareholders, compared with 14.9 crore shares planned earlier.
