BSE shares drop over 3% as NSE opens ₹22,662cr IPO
Business
BSE shares took a hit, dropping over 3%, after NSE announced its big IPO.
The NSE is opening bids from September 17 to 21, aiming to raise ₹22,662 crore at ₹1,700 to ₹1,785 per share.
It's all about existing investors selling their stake, and the move has definitely caught traders' attention.
Bernstein rates BSE underperform ₹2,820 target
NSE shares will start trading on BSE from September 24. If priced at the top end, NSE's value could jump to ₹4.41 lakh crore.
Meanwhile, Bernstein analysts aren't feeling too optimistic about BSE; they've rated it "Underperform" and set a target price of ₹2,820 (about 15% lower than yesterday).
Their main worries? Fewer retail investors jumping in and slow growth expected by fiscal 2027, even though BSE had a strong run earlier this year.