NSE finally goes public: Inside the landmark listing on rival BSE

Rival's Stage

NSE has finally entered the listed-company club, but its first trading day came on the platform of its biggest rival, BSE. The exchange's shares debuted on BSE at ₹1,800, just above the ₹1,785 IPO price. 

The listing marks the end of NSE's unusually long journey to the public markets. Its ₹22,569-crore IPO followed years of regulatory hurdles and became India's second-largest public issue, adding another landmark to the exchange's history. 

Chauhan's Moment

NSE MD and CEO Ashishkumar Chauhan was among the key figures at the Mumbai listing ceremony. Speaking at the event, Chauhan described his role at NSE as the biggest honour of his career and thanked investors, Sebi and the government. 

BSE Connection

The ceremony brought together leaders from India's two major stock exchanges, with NSE chairman Srinivas Injeti, MD and CEO Ashishkumar Chauhan and BSE CEO Sundararaman Ramamurthy pictured together. The unusual setting captures the rivalry and connection between the country's two exchanges.

Investor Rush

NSE's IPO attracted substantial demand before its debut, with the ₹22,569-crore issue subscribed 5.71 times. Qualified institutional buyers subscribed 12.68 times their allocation, while retail investors subscribed 1.39 times.