NSE Stock Debuts at Rs 1,800: Valuation Hits Rs 4.63 Lakh Cr
By Business Desk
NSE makes its market debut at Rs 1,800 per share on the BSE, achieving a massive valuation of Rs 4.63 lakh crore and ranking as India’s 9th largest firm.
The National Stock Exchange made a subdued entry into the public market, opening at Rs 1,800 per share on the BSE. This opening price represented a premium of less than 1% over its IPO price of Rs 1,785.
Listing Performance and Valuation
Following the initial listing, the stock rallied approximately 3%. This push brought the exchange total market capitalization to Rs 4.63 lakh crore.
This valuation secures the National Stock Exchange position as India ninth-largest listed company. It successfully surpasses major entities like HUL and Sun Pharmaceuticals.
Brokerage Outlook and Target Prices
Market analysts point to limited share supply as a factor influencing trading performance. SEBI regulations impose a six-month lock-in period on shares held by non-promoter shareholders prior to the IPO.
Major brokerages maintain an optimistic stance despite the muted debut. Macquarie initiated coverage with an Outperform rating and a target price of Rs 1,965.
Emkay issued a Buy recommendation with a target of Rs 2,050. Both brokerages cite exchange leadership, strong cash generation, and the long-term growth potential of India capital markets.
IPO Subscription and Offer Structure
The Rs 22,562-crore IPO operated entirely as an offer for sale. Consequently, the exchange itself did not raise new capital through the offering.
Qualified Institutional Buyers subscribed 12.68 times their reserved portion. This institutional demand contributed to an overall subscription level of 5.71 times.