SEBI clears NSE IPO as GMP rises to ₹250-280
Big news for market watchers: the National Stock Exchange (NSE) just got SEBI's go-ahead for its much-awaited IPO.
Soon after the regulatory nod on Friday evening, the gray market premium (GMP), basically what investors are willing to pay extra, spiked from ₹150-180 to ₹250-280 per share.
Clearly, excitement is building fast.
NSE IPO could raise ₹30,000cr
The NSE IPO is expected to launch by the end of September and could raise around ₹30,000 crore.
Unlisted shares were trading at ₹1,975 recently, and the company might be valued between ₹5 lakh crore and ₹5.25 lakh crore.
Earlier this year, activity in unlisted NSE shares was pretty slow due to tough market conditions and a hit to derivatives volumes following the introduction of the closing auction session (CAS).
As Manan Doshi, co-founder of Unlisted Arena, put it, "The valuation at which the offering is priced will be critical to how the market responds."