NSE shares opened at ₹1,800 on the BSE, a 0.84% premium to the ₹1,785 issue price, and reached a high of ₹1,878—5.21% above the offer—before closing the session at ₹1,818, registering a 1.85% first‑day gain.
The IPO was 5.71× oversubscribed, with bids for 50.58 crore shares against 8.86 crore available, pushing total demand past ₹90,000 crore. According to the NSE filing, the exchange raised only 5% of its equity, as it was an offer‑for‑sale with no proceeds retained.
At the issue price, NSE was valued at ₹4.42 lakh crore, roughly $46 billion, making it the second‑largest IPO in Indian history after Hyundai Motor India’s ₹27.86‑lakh‑crore offering. The ₹22.56‑lakh‑crore price tag represents about $2.35 billion, 5% of the company’s total market value.
Among the five biggest recent IPOs, NSE’s 1.85% gain is the second‑best, trailing Tata Capital’s 1.35% rise; Hyundai Motor India fell 7.12%, Paytm slid 27.25%, and LIC dropped 7.75% on debut. These mixed results highlight the varied investor appetite for large‑cap issuances.
With NSE now listed on BSE, trading volume and bid‑ask spreads will be closely watched over the next fortnight. Analysts note that the lack of proceeds to NSE may limit immediate capital inflow but could create liquidity opportunities as the exchange integrates with the broader market.