
The NSE IPO has drawn massive investor interest, with the issue receiving around 20 times subscription. Speaking to Business Today, Gaurang Shah of Geojit discusses the strong response to the long-awaited IPO and why he believes the listing could mark a new chapter for India’s capital markets. He also discusses NSE’s valuation, the limited OFS and the decision to keep the price band relatively reasonable. Shah says IPOs with rich valuations have faced pressure after listing in the past, while more moderate pricing can leave room for long-term investors. He also discusses the potential impact of the NSE IPO on other stocks with stakes or links to the exchange.