NSE IPO Opens for Subscription
Dalal Street is bracing for a busy session on Thursday, September 17, as the National Stock Exchange’s long-awaited initial public offering opens for subscription. The same day, six companies that completed their IPOs last week are scheduled to begin trading on the NSE and BSE.
The NSE IPO is an offer for sale, meaning existing shareholders are selling their shares and the exchange itself will not receive any proceeds from the offering. The issue is valued at around Rs. 22,568 crore, making it one of India’s largest public offerings, with a price band fixed at Rs. 1,700 to Rs. 1,785 per share. The subscription window remains open from September 17 to September 21.
Ahead of the public issue, 189 institutional investors participated in the anchor allocation, buying shares worth approximately Rs. 6,746 crore at Rs. 1,785 per share.
Six Companies Ready for Listing Day
Investors will also track the stock-market debut of six companies that wrapped up their IPOs last week:
- RentoMojo
- LCC Projects
- Manipal Payment & Identity Solutions
- Asset Reconstruction Company (India)
- Karamtara Engineering
- Steamhouse India
Collectively, these six issues generated strong demand. According to the Times of India, the offerings drew total bids of around Rs. 1.4 lakh crore, against a combined mobilisation target of about Rs. 7,100 crore.
Among the debutants, RentoMojo raised about Rs. 1,255.6 crore, Karamtara Engineering Rs. 875 crore, Manipal Payment & Identity Solutions Rs. 805 crore, Asset Reconstruction Company (India) Rs. 733 crore, LCC Projects Rs. 427 crore and Steamhouse India Rs. 414 crore.
Derivatives Market in Focus
The NSE listing also comes at a time of change in the derivatives segment, a key revenue source for the exchange. Reuters reported that investors are weighing recent regulatory changes and softer derivatives volumes while assessing the offer.
With the primary market buzzing, Thursday’s session is expected to keep Dalal Street active as both the exchange’s IPO and the new listings take centre stage.
This article is for informational purposes only and does not constitute investment advice. Readers should conduct their own research before making investment decisions.