NSE pips Sun Pharma, Titan Company, Adani Enterprises, Infosys in terms of market cap

NSE listing: Shares of National Stock Exchange of India Ltd (NSE) listed on BSE at Rs 1800 per share on Thursday, implying a premium of 0.84% to the IPO price. With this market debut, the stock has entered the league of top 10 Indian firms listed in terms of market cap on BSE. The IPO price of the issue was Rs 1,785 per share. It has become the 11th most valued firm in terms of market cap on BSE.

Post the mega IPO's market debut, market cap of India's largest exchange by volumes stood at Rs 4.53 lakh crore. It lags behind companies such as HUL (Rs 4.55 lakh crore), L&T (Rs 5.35 lakh crore) and Bajaj Finance (Rs 6.21 lakh crore) in terms of market capitalisation on BSE. The NSE stock has made its market debut only on BSE as per SEBI rules, which disallow shares of a stock exchange to be listed on its own platform.

On the other hand, NSE has crossed Sun Pharma (4.47 lakh crore), Titan Company (Rs 4.32 lakh crore), Adani Enterprises (Rs 4.21 lakh crore) and Infosys (Rs 4.16 lakh crore) in terms of market capitalisation on BSE.

NSE shares were offered in a price band of Rs 1,700-1,785 per share, with a minimum lot size of eight equity shares and subsequent applications in multiples of eight. The issue raised Rs 22,562 crore from investors and attracted more than 38.4 lakh applications, with bids worth over Rs 90,300 crore.

Among investor categories, qualified institutional buyers (QIBs) led the subscription demand, with their reserved portion being subscribed 12.68 times. The non-institutional investor (NII) category was subscribed 6.55 times, while the retail portion saw a subscription of 1.39 times. The employee quota was subscribed 2.40 times.

The NSE IPO was managed by a consortium of 20 book-running lead managers, while MUFG Intime India is acting as the registrar to the issue.