NSE Shares Begin Trading on BSE After 5.71-Times Subscription

National Stock Exchange of India shares began trading on the Bombay Stock Exchange on September 24, after an initial public offering that was subscribed 5.71 times and sold shares held by existing investors. The exchange itself received no proceeds from the offer, which was priced at Rs 1,785 a share. Reports put the opening price at either Rs 1,800 or Rs 1,809.10, indicating a modest premium, though they differ on the exact figure. The sale involved about 12.64 crore shares. Demand varied by investor category: qualified institutional buyers subscribed 12.68 times the shares allocated to them, while retail investors subscribed 1.39 times their portion. The non-institutional investor category was subscribed 6.55 times, according to issue figures reported during coverage of the listing. Trading prices moved higher after the opening, but reports captured different points in the session. One account put the stock at Rs 1,875 by 10:10 a.m., while another reported a high of Rs 1,878. A separate report said the shares reached Rs 1,844 in early trade. One account reported a first-day close of Rs 1,818; the available reports do not provide a consistent closing-price record.