NSE stock rises 5% on market debut: How shares of IFCI, SBI, Bank of Baroda, GIC Re are trading today

NSE listing: Shares of SBI, Bank of Baroda, GIC Re and New India Assurance were trading on flat note today after the NSE stock listed on BSE today. NSE stock rose 5.21% to Rs 1878 in early deals today. Market cap of the firm rose to Rs 4.60 lakh crore on BSE. Shares of NSE listed at Rs 1800 per share on Thursday, implying a premium of 0.84% to the IPO price. The IPO price of the issue was Rs 1,785 per share.

SBI, Bank of Baroda, GIC Re and New India Assurance are the listed entities that sold their stake in the NSE IPO. SBI sold around 2.48 crore shares of NSE during the IPO.

Bank of Baroda, another listed player, sold nearly 1.10 crore shares in the stake sale. GIC RE also sold around 1.07 crore shares in the IPO.

IFCI shares slipped 4.39% to Rs 75.92 against the previous close of Rs 79.41. Market cap of the firm slipped to Rs 20,455 crore. IFCI has indirect exposure in NSE through Stock Holding Corporation of India. IFCI owns 52.86% stake in SHCIL, making it a subsidiary.

Stock Holding Corporation owns roughly a 4.44% equity stake in the NSE.

Shares of SBI were trading on a flat note at Rs 985.60 today. Market cap of the lender stood at Rs 9.09 lakh crore. Bank of Baroda shares too were trading 1 % lower at Rs 234.70. Market cap of the bank stood at Rs 1.21 lakh crore.

New India Assurance stock slipped 4% to Rs 183.80 on BSE.

Shares of General Insurance Corporation of India slipped 1% to Rs 340.90. Market cap of the general insurance firm stood at Rs 59,807 crore.

NSE cut the stake on sale to about 5.5% of the total equity capital from the originally planned 6% after some shareholders have backed out of selling their stakes at the lower price

Earlier, reports said that NSE IPO could involve sale of around 14.89 crore shares, representing roughly 6% of equity stake, through the IPO. The issue was entirely an offer for sale, or OFS.