NSE IPO Drives Capital Market Stocks Into Focus; BSE, CDSL And Other Stocks Rise Up To 4%
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Capital-market stocks gained on September 17 as the NSE IPO opened for subscription. BSE, CDSL, MCX and HDFC AMC rose during trade, with CDSL gaining nearly 4%. The NSE issue comprises an OFS of 12.64 crore shares and will remain open until September 21.
Shares of capital-market companies gained on Thursday as the ₹22,569 crore initial public offering (IPO) of the National Stock Exchange (NSE) opened for subscription. BSE, CDSL, MCX and HDFC AMC were among the stocks trading higher during the session.
BSE shares rose 1.33% to ₹3,283 on the NSE at around 12:00 pm, while Central Depository Services (India) Ltd (CDSL) gained 3.93% to ₹1,350. Multi Commodity Exchange of India (MCX) was up 1.68% at ₹3,265.20, while HDFC Asset Management Company (HDFC AMC) advanced 1.22% to ₹2,402.
The Nifty Capital Markets index was also trading higher, with most of its constituents in the green.
BSE, CDSL Among Stocks In Focus
The NSE IPO has turned attention towards listed companies operating across India's capital-market space. BSE and CDSL are the closest listed peers in terms of exchange and depository operations, while MCX and HDFC AMC operate in commodity derivatives and asset management, respectively.
BSE shares were among the stocks to watch during Thursday's session, gaining more than 1% around noon. CDSL was up nearly 4%, extending the gains across the market-infrastructure segment. MCX shares also moved higher, while HDFC AMC gained more than 1%. The moves came as investors tracked developments around NSE's public issue and the wider capital-market space.
The NSE IPO comprises an offer for sale of 12.64 crore shares, with the price band set at ₹1,700-₹1,785 per share. The issue opened on September 17 and will close on September 21, with NSE shares scheduled to list on the BSE on September 24.
There is no fresh issue in the IPO, so the proceeds will go to the existing shareholders selling their NSE holdings. The exchange raised ₹6,746 crore from more than 150 anchor investors ahead of the public issue.
Capital Market Stocks: Key Moves
The gains extended beyond exchanges and depositories. HDFC AMC rose 1.22% to ₹2,402, while MCX gained 1.68% to ₹3,265.20.
The broader move reflects the attention on India's capital-market companies as NSE prepares to enter the listed market. BSE, CDSL and other listed players could remain on investors' radar during the NSE IPO subscription period.
For now, the NSE issue remains the key market event for the segment, with bidding continuing until September 21 and the listing scheduled for September 24.
Also Read - NSE IPO Impact: SBI Shares Slip As ₹22,569 Crore Issue Opens; Bank To Sell NSE Stake Worth ₹2,851 Crore
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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