NSE IPO: Months after filing papers, and nearly a decade after its first attempt to enter the primary market, National Stock Exchange (NSE) initial public offering is all set to reach another milestone. The NSE IPO price band is expected to be released soon this week, as per media reports.
Amid growing buzz around the NSE IPO, investors are closely tracking details of its price band, issue size, and IPO timeline. Here are the latest details about the NSE IPO, from its price band release date, expected price band, issue size, etc.
NSE IPO price band to be announced tomorrow? Here’s what we know so far
NSE IPO price band is expected to be announced on Friday, September 11, according to multiple media reports. Livemint couldn’t independently verify the development. As per reports, the country’s largest stock exchange may get listed as soon as this month.
In a separate development, NSE has reportedly cut the issue size of its IPO. The proposed dilution of shares by existing shareholders could fall from 6% to 5.2%-5.5%, according to a PTI report.
NSE IPO GMP today
NSE IPO grey market premium (GMP) today indicated 11.82% listing gain, as on Thursday, September 10. Its IPO GMP stood at ₹211 which hints at an estimated listing price of ₹1785 (sum of upper price band and IPO GMP today).
NSE IPO expected price band
NSE is expected to keep its price band between the range of ₹1,700 and ₹1,785 per share, reported PTI citing sources. However, Bloomberg reported that the NSE IPO can be expected around ₹1,785. LiveMint was the first digital publication to calculate and break the price band range online.
The Mumbai-based stock exchange is looking to make the issue more attractive with pricing being structured to provide greater participation and benefit to small investors in the OFS.
NSE IPO issue size
The reduction in NSE IPO OFS could reduce the overall NSE IPO issue size to ₹25,000-27,000 crore, against earlier estimate of ₹30,000 crore. The official process for NSE IPO began last week when Securities and Exchange Board of India (SEBI) gave its approval for the Draft Red Herring Prospectus (DRHP). The IPO reportedly filed its updated DRHP on Wednesday.
NSE IPO expected timeline
The IPO is likely to open for subscription on Friday, September 18, and conclude on Tuesday, September 22. The country’s largest stock exchange is likely to be listed on September 25, as per PTI report. While the IPO is expected to be listed on BSE, it would be interesting to see if SEBI would approve NSE shares trading on its own exchange through ‘permitted-to-trade’ route.
