The much-awaited initial public offering (IPO) of the National Stock Exchange of India opened for subscription on September 17, allowing public-market investors to own a stake in the country’s largest stock exchange.
The Rs 22,561.57-crore IPO is entirely an offer for sale (OFS) of 12.64 crore shares by 23 existing shareholders. The issue has been priced at Rs 1,700-1,785 a share, with a lot size of eight shares. Thus, at the upper end of the price band, retail investors will need Rs 14,280 to apply for one lot. The maximum application of 14 lots, or 112 shares, will require Rs 1,99,920. The issue closes on September 21, while the shares are scheduled to list on September 24, subject to the final listing schedule.
