National Stock Exchange IPO oversubscribed after ₹90,000 cr bids
The National Stock Exchange (NSE) just pulled off a record-breaking IPO, with investors bidding for around ₹90,000 crore, way above the ₹22,561.57 crore on offer.
Demand was especially strong from big institutional buyers, who went after 50,58,11,384 shares when only 8,86,42,911 shares were up for grabs.
The final subscription rate hit 5.71 times, topping even the buzz around LIC's earlier IPO.
Price band ₹1,700-₹1,785 allotment September 22
The IPO ran from September 17 to 21 with shares priced between ₹1,700 and ₹1,785 each.
If you applied, allotment results should be out by September 22 and NSE is set to list on the Bombay Stock Exchange on September 24.
Shares are already seeing a ₹55 premium in the unofficial gray market, but remember that doesn't always predict how things will go once trading starts for real.