NSE Share Price Falls Below IPO Price: Stock Slips To 12th Spot Among India’s Most Valuable Companies
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NSE shares slipped below the ₹1,785 IPO price after falling from their listing-day high of ₹1,878. The stock has also dropped to the 12th spot among India’s most valuable listed companies by market capitalisation.
NSE share price: Shares of the National Stock Exchange (NSE) have slipped below their ₹1,785 IPO price just days after making their much-awaited stock market debut.
NSE shares listed on September 24 at ₹1,800 on the BSE, a premium of 0.84% over the issue price. The stock initially climbed to ₹1,878, but has since given up its listing gains amid selling pressure.
The decline has also affected NSE's position among India's most valuable listed companies. The exchange has slipped to the 12th spot by market capitalisation, according to the latest market data.
NSE Share Price Today: From ₹1,878 High To Below IPO Price
NSE shares touched ₹1,878 on the listing day after opening at ₹1,800 on the BSE. The stock subsequently moved lower and fell below its ₹1,785 IPO price. On September 28, NSE shares touched an intraday low of ₹1,761 on the BSE before recovering slightly.
At ₹1,761, the stock was around 6.2% below its IPO price and nearly 6.2% lower than its listing-day high of ₹1,878.
NSE Market Cap: Exchange Drops Out Of Top 10
The fall in NSE's share price has also affected its ranking among India's largest listed companies.
NSE entered the market with a valuation of around ₹4.5 lakh crore at the end of its debut session.
Its market capitalisation has since fallen to around ₹4.37 lakh crore as the stock price declined. NSE is now ranked 12th among India's most valuable listed companies, moving out of the top 10.
NSE IPO: What Happened After The ₹22,562 Crore Issue?
NSE's IPO was one of the biggest public issues in India's stock market, with an offer size of around ₹22,562 crore. The issue was priced in the ₹1,700-₹1,785 range and was subscribed 5.71 times overall.
The exchange made its stock market debut on September 24 after years of anticipation. It closed the first trading session at around ₹1,818, giving investors a 1.85% gain over the IPO price.
The subsequent decline has now pushed NSE shares below the IPO price, erasing the gains recorded after listing.
Also Read - Tata Motors Subsidiary Buys 26% In Mateshwari E-Smart Mobility For ₹2.6 Lakh
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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