The National Stock Exchange of India IPO was subscribed 43 per cent on Thursday, the first day of bidding, according to the details on the BSE, with bids for 38 million shares against 88.6 million shares on offer.
The qualified institutional buyers (QIB) category, which typically sees the sharpest pick-up closer to issue close, was subscribed just 19 per cent, with mutual funds accounting for the bulk of institutional bids received so far, followed by foreign institutional investors.
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The non-institutional investors (NIIs) led the demand, subscribing 72 per cent of their reserved portion of 18.9 million shares, with bids for 13.6 million shares.
Retail individual investors bid for 19.3 million shares against a reserved quota of 44.1 million shares, translating into 44 per cent subscription while the employee reservation portion was subscribed 96 per cent. The ~22,560 crore issue closes for subscription on September 21 and the listing is expected next week.
A day earlier, the country’s largest exchange raised Rs 6,746 crore from nearly 189 anchor investors. Life Insurance Corporation of India, Norway’s Government Pension Fund Global, the Monetary Authority of Singapore, the Abu Dhabi Investment Authority and Societe Generale were among the marquee names, along with several other life insurers and mutual funds.
The grey market premium for the shares was around 8 per cent on Thursday.
