NSE IPO listing date, time, GMP today: What investors should watch on September 24

The much-awaited National Stock Exchange of India (NSE) IPO is set to make its stock market debut on Thursday, September 24, marking the exchange’s long-awaited transition to a listed company. The ₹22,569-crore public issue drew strong demand across investor categories and is now heading into its most closely watched phase — the listing.

The NSE IPO is expected to begin trading at around 10 am on September 24. The basis of allotment was finalised on September 22, while shares were scheduled to be credited to successful investors’ demat accounts on September 23. The issue was priced at ₹1,700-₹1,785 per share, with a lot size of eight shares.

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The IPO was subscribed 5.71 times, with investors bidding for around 50.6 crore shares against 8.86 crore shares on offer. Qualified institutional buyers (QIBs) led the demand, with their portion subscribed 12.68 times, followed by the non-institutional investor (NII) category at 6.55 times and retail investors at 1.39 times.

 

NSE IPO GMP today: What does the grey market indicate?

The latest NSE IPO GMP was ₹47 as of 9:37 pm on September 23, according to InvestorGain data. At the IPO’s upper price band of ₹1,785, this implies an indicative listing price of around ₹1,832, or a premium of approximately 2.63%.

The grey market premium has, however, moderated sharply from the levels seen when the issue opened. NSE shares were reportedly commanding a GMP of around ₹142, or roughly 8% above the upper end of the price band, on September 17.

GMP is an unofficial indicator of investor sentiment and is not determined by the stock exchanges. It can change before listing and does not guarantee either the actual listing price or subsequent performance.

 

NSE IPO sellers

The NSE IPO is entirely an offer for sale (OFS). This means NSE itself will not receive the IPO proceeds; the money raised will go to the existing selling shareholders.ALSO READ | NSE IPO allotment today: Find out how to check your status across BSE, NSE and MUFG Intime

The selling shareholders include State Bank of India (SBI), Canada Pension Plan Investment Board, Aranda Investments (Mauritius), MS Strategic Mauritius, New India Assurance, SBI Capital Markets, Bank of Baroda, Stock Holding Corporation of India, General Insurance Corporation of India and United India Insurance Company.

NSE does not have a classified promoter. The issue comprised up to 12.64 crore shares, including the employee reservation portion.

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