IFCI, New India Assurance Among Stocks To Fall As NSE Makes Muted Debut
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IFCI, New India Assurance and GIC shares fell up to 3% as NSE made a muted market debut on Thursday. The three companies had direct or indirect exposure to NSE before its IPO.
Shares of IFCI, New India Assurance Company (NIACL) and General Insurance Corporation (GIC) of India fell up to 3% on Thursday as the National Stock Exchange (NSE) made its much-awaited stock market debut.
NSE shares are listed at less than a 1% premium to the initial public offering (IPO) price, keeping investors focused on companies that hold direct or indirect stakes in the exchange.
The NSE IPO raised ₹22,562 crore through an offer for sale of 12.64 crore shares. The price band was fixed at ₹1,700-1,785 per share, with the entire issue consisting of shares sold by existing shareholders.
Since there was no fresh issue, NSE itself will not receive any of the IPO proceeds. The exchange had also raised ₹6,746 crore from anchor investors before the public issue opened.
How IFCI Is Linked To NSE
IFCI has indirect exposure to NSE through Stock Holding Corporation of India (SHCIL).
IFCI owns more than 50% of SHCIL, which holds more than 4% in NSE. SHCIL was among the shareholders selling NSE shares through the IPO and was set to offload up to 62 lakh shares.
IFCI shares had gained more than 50% in 2026 before Thursday's fall, with expectations around the NSE listing contributing to the recent interest in the stock.
At 11:05 AM on Thursday, IFCI share price stood at ₹75.92 on the NSE, down 4.49% from the previous day’s closing.
New India Assurance To Sell NSE Shares
New India Assurance was another major shareholder participating in the NSE offer for sale.
The insurer was set to sell 1.05 crore NSE shares through the IPO. It held around 1.42% in NSE before the public issue.
New India Assurance shares had gained more than 23% so far in 2026 before Thursday's decline.
At 11:06 AM on Thursday, New India Assurance share price stood at ₹184.06 on the NSE, down 3.71%.
GIC Also Had NSE Stake
General Insurance Corporation of India (GIC) was also part of the NSE share sale.
The insurer was set to sell around 61.88 lakh NSE shares through the OFS. GIC held nearly 2% in NSE before the IPO.
At 11:07 AM on Thursday, GIC share price stood at ₹341.06 on the NSE, down 0.84%.
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Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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