The National Stock Exchange of India (NSE) has opened its initial public offering (IPO) today, with the issue receiving 42 percent subscription as of 5:00 pm on September 17, as per NSE data.


The Rs 22,568.94-crore IPO received bids for 3,69,66,624 shares against 8,86,42,911 shares on offer. The demand was led by non-institutional investors with 70 percent subscription, followed by retail investors with 42 percent subscription.

The company, on September 16, raised Rs 6,746.2 crore from several marquee domestic and global investors, with the Life Insurance Corporation of India (LIC) emerging as the largest player.

NSE, which is seeking a valuation of Rs 4.42 lakh crore, has allocated 3.77 crore equity shares to 189 anchor investors at the upper end of the price band. The valuation sought by the exchange will likely see it enter the list of top 15 companies in terms of market capitalisation.

The public subscription will run from September 17 to September 21, consisting entirely of an offer-for-sale of 12.64 crore equity shares by existing shareholders. The price band for the offer has been fixed at Rs 1,700-1,785 per share.

As it is entirely an offer-for-sale, the NSE will not receive any proceeds from the IPO. All the proceeds from the offer, excluding issue expenses, will be received by selling shareholders.

The exchange has reserved shares worth Rs 70 crore for its employees, , who will be offered those shares at a discount of Rs 170 per share to the final issue price.

The IPO share allotment is likely to be finalised on September 22, while the shares of NSE are expected to be available for trading on the BSE from September 24.