National Stock Exchange public share offering closes with 5.7 times total subscription

The share sale of the National Stock Exchange closed after receiving bids worth about ninety thousand crore rupees. Overall, the issue was subscribed about five point seven times. Investors bid for more than fifty crore equity shares against roughly eight point eight six crore shares on offer. The share sale received about thirty eight point five lakh applications in total. Qualified institutional buyers led the demand with their portion subscribed twelve point six eight times, placing bids for about thirty one point nine seven crore shares. The non-institutional investor portion was subscribed six point five five times. The retail investor portion was subscribed about one point four times, while the employee quota saw a subscription of two point four times. The price band for the issue was set between one thousand seven hundred and one thousand seven hundred eighty five rupees per share. At the upper end of the price band, the final offer size was roughly fifteen thousand eight hundred twenty three crore rupees for eight point eight six crore shares. The exchange had earlier raised six thousand seven hundred forty six crore rupees from anchor investors. This public issue is entirely an offer for sale, meaning the money raised goes to existing shareholders selling their stakes rather than to the exchange itself. The selling shareholders include State Bank of India, SBI Capital Markets, Bank of Baroda, and the Stock Holding Corporation of India. This public offering marks the end of a long delay, as the exchange had been trying to list since two thousand sixteen when it first filed papers before being held up by regulatory proceedings. The shares are expected to be listed on the Bombay Stock Exchange on September twenty fourth.