NSE IPO GMP falls to ₹125, suggests ₹1,910 listing
The National Stock Exchange of India's big IPO just opened, but the buzz has cooled a bit.
Its gray market premium (GMP) slipped from ₹218 to ₹125 in just a week, hinting at a likely listing price around ₹1,910, about 7% above the top offer price.
Last week's hype had it at more than 12% premium, so things have definitely slowed down.
All-offer-for-sale IPO valued ₹22,561.57 cr
This is an all-offer-for-sale IPO worth ₹22,561.57 crore, so none of the money goes to NSE itself; it's all for existing shareholders cashing out.
Shares are priced between ₹1,700 and ₹1,785 each, and retail investors need at least ₹14,280 for eight shares.
Anchor investors have already picked up shares worth ₹6,746 crore.
The stock is tentatively scheduled to list on BSE on September 24.
While Angel One says NSE's market dominance makes it worth considering, Religare Broking urges caution due to high valuations and possible regulatory risks.