NSE ₹2.26L/cr IPO subscribed 5.7 times overall retail 1.3 times
NSE's massive ₹2.26 lakh crore ($2.4 billion) IPO just wrapped up, and while the overall subscription hit 5.7 times, most of the excitement came from big institutional players.
Regular retail investors weren't as interested. Subscription in that segment was only 1.3 times, amid valuation concerns, and it trailed other large Indian IPOs such as LG Electronics Inc.'s Indian unit and SBI Cards & Payment Services Ltd.
Institutional investors bid 12.7 times
Institutional investors, including anchor investors Goldman Sachs and HSBC, bid 12.7 times their allotted portion, even as some regulatory scrutiny around derivatives trading made things a bit less rosy for NSE's future profits.
The shares were priced at ₹1,785 each (the very top of the range), and since this was an offer for sale by existing investors, none of the money actually goes to NSE itself.
Plus, with the gray market premium dropping to just 3%, it seems even seasoned investors are keeping their excitement in check.