Punjab, Sept. 24 -- The NSE listed at Rs 1,800 on the BSE this morning against an issue price of Rs 1,785 - a premium of about 0.84%. It rose past Rs 1,844 in early trade. India's largest exchange is now listed on its rival.
A quiet debut, and that was the expectation
The grey market had been implying a 2 to 4% gain and had cooled through the week. A 0.84% open is below even that.
For India's second-largest IPO ever - a Rs 22,562 crore offer, about $2.4 billion, behind only Hyundai's Rs 27,870 crore - that is a notably restrained first print.
It is not a disappointment. It is what a fully priced issue looks like. The book was subscribed 5.71 times with institutions at 12.68, which means plenty of people wanted the stock and very few tho...