A new history will be created in the stock market! Shares of NSE will be listed on MSEI along with BSE.

On Thursday, National Stock Exchange shares will not be listed only on BSE. Instead, it will also be listed on the Metropolitan Stock Exchange of India (MSEI). Equity shares of NSE will be included for trading in the capital market segment of the exchange from September 24, MSE said in a circular issued on Wednesday. The Metropolitan Stock Exchange is a SEBI-approved national stock exchange that provides an electronic trading platform in the capital markets, equity derivatives, currency derivatives and debt segments. Its platform spans equity and index derivatives, debt and currency derivatives, with over 250 listings and over 3100 companies available for trading.

The decision comes days after NSE MD and CEO Ashish Chauhan clarified that the stock exchange will not seek SEBI approval for trading its shares on its own platform. Market regulator rules currently do not allow any recognized stock exchange to list its securities on its own platform. NSE shares will start trading on both BSE and MSEI from tomorrow. The market is eyeing gray market trends for one of the most awaited listings of the year so far.

GMP of NSE IPO

Before the listing, the NSE unlisted shares were trading at a premium of just 2% over the IPO price, indicating a sluggish listing yesterday. With the scheduled market launch of NSE tomorrow, its long process to be listed as India’s second listed stock exchange after BSE will be completed. An ‘Offer for Sale’ (OFS) of 12.64 crore shares by existing shareholders at Rs. The company’s initial public offering (IPO) was launched earlier this month with an aim to raise ₹22,562 crore. This means that the proceeds from the IPO will not be given to the NSE, as the proceeds will be given to the shareholders who sold the shares.

From more than 150 anchor investors Rs. 6,746 crore collected

NSE shares at Rs. 1,700 to Rs. 1,785 per share was offered. With a lot size of 8 shares, the minimum retail application amount is Rs 14,280. A day before opening the IPO for public bidding, the stock exchange raised Rs. 6,746 crore was collected. The share of foreign portfolio investors in the anchor book is Rs. 2,883 crore or 43%. More than 20 foreign long-only funds participated, including Singapore’s sovereign wealth fund GIC, Abu Dhabi Investment Authority and Norges Bank.

Local investors showed tremendous interest

Demand from local institutional investors was also very broad. More than 25 mutual funds and 11 insurance and pension companies accounted for about 53 percent of the anchor book, i.e. Rs. 3,588 crore has been invested. LIC, the largest shareholder in NSE with 10.72 percent stake, raised Rs. had invested more than 500 crores. The investment comes at a time when LIC’s current holdings are already higher than the stake offered in the IPO. SBI Group, which is selling 1 percent stake in NSE through State Bank of India and SBI Capital Markets, has also invested in the exchange through SBI Mutual Fund, SBI General, SBI Life and SBI Pension Fund. His total investment is Rs. is more than 400 crores.

How many were subscribed

Investors showed tremendous interest in NSE’s maiden public issue during the three days of public bidding. Between September 17 and September 21, it was oversubscribed almost 6 times the offer size. Qualified Institutional Buyers (QIBs) led the demand, booking around 13 times the portion reserved for them, while the portion reserved for retail investors and non-institutional investors (NIIs) was booked at 1.4 times and 6.6 times, respectively.