NSE IPO GMP Falls To Rs 43 Ahead Of Listing; Signals Limited Debut Gains

The grey market premium (GMP) of the National Stock Exchange of India (NSE) IPO has fallen sharply to Rs 43 ahead of its stock market debut on September 24, signalling a more modest premium than earlier indicated.

Based on the latest GMP, the shares could list at around Rs 1,828, representing a 2.41 per cent premium over the issue price of Rs 1,785.

The GMP has declined considerably from pre-issue levels of around Rs 145 per share, which had indicated a potential listing premium of more than 8 per cent.

However, grey market premiums are unofficial indicators and can change before listing.

The BSE will determine the actual share price based on demand and supply.

The NSE IPO opened on September 17 and closed on September 21.

The allotment was finalised on September 22, and the shares will list on the BSE on September 24.

Investors subscribed to the Rs 22,568.94 crore issue 5.71 times, bidding for over 50.58 crore shares against 8.86 crore on offer.

QIBs subscribed 12.68 times, while NIIs and retail investors subscribed 6.55 times and 1.39 times, respectively.

NSE priced the IPO in the range of Rs 1,700 to Rs 1,785 per share. The issue comprised an offer for sale (OFS) of 12.64 crore equity shares by existing shareholders, with no fresh shares issued by the company.

NSE earns most of its revenue from transaction charges, while derivatives remain a major contributor. It also holds a dominant share across key market segments.

The listing will mark NSE’s entry into the public market after the successful completion of its IPO.

Investors will now track the actual opening price against the GMP-based estimate as trading begins on September 24.

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