NSE IPO subscription status today: The National Stock Exchange of India’s Rs 225.69 billion ($2.3 billion) IPO received subscription of 42% on Thursday, the first day of bidding, indicating a somewhat muted opening for one of the country’s most closely watched offerings.Investors bid for 37 million shares against the 88.6 million shares on offer by 5:03 p.m. IST, according to exchange data.IPO subscriptions often gain pace in the later stages of the bidding period. The NSE issue will remain open until September 21, with the listing scheduled for September 24.Also Read | NSE IPO opens for subscription: From GMP, market cap to status & global comparison – top 10 things to know“The initial subscription data should not be read too much into as there are also multiple IPOs taking place simultaneously and subscriptions will pick up as institutional buyers start coming in,” said Aishvarya Dadheech, founder and CIO at Fident Asset Management, according to Reuters.The $2.3 billion offering is among the largest IPOs in India and comes as the primary market draws several major issuers, including billionaire Mukesh Ambani-backed Jio Platforms. The NSE issue is structured as an offer-for-sale by existing shareholders.Ahead of the IPO, NSE on Wednesday allocated shares worth $703.04 million to prominent domestic and global investors through its anchor book. The investors included the sovereign wealth funds of Norway and Abu Dhabi.Retail investors subscribed to 42% of their allotted portion, while non-institutional investors subscribed 70%. Qualified institutional buyers, meanwhile, subscribed to 19% of the shares available to them.NSE is targeting a valuation of up to $46 billion, which is 15% to 20% below the level indicated during its pre-IPO roadshows. The lower valuation comes amid a slowdown in options trading activity.The exchange has also been losing market share in index options, an important segment of its business, to rival BSE, analysts at Ventura Securities said.“NSE has lost share here since SEBI (India’s markets regulator) allowed each exchange only one weekly expiry day,” analysts at Choice Broking said. “A higher transaction tax from April 2026 will weigh on volumes further.”(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
