Mumbai: The National Stock Exchange's ₹22,561-crore IPO was subscribed 0.43 times on Thursday, the first day of subscription, with the non-institutional investor (NII) category receiving the highest amount of bids. The issue received bids for 3.70 crore shares against 8.86 crore shares on offer, according to subscription data available on NSE as of 7 pm on Thursday.
The qualified institutional buyers (QIBs) portion was subscribed 0.19 times, while the NII category was subscribed 0.72 times. The retail investor portion was subscribed 0.44 times, according to NSE data.
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The issue will remain open until Sep 21, and the shares will list on the BSE on Sep 24.
The IPO is entirely an offer for sale (OFS) of 12.64 crore shares by 10 existing shareholders, with a price band of ₹1,700-1,785 per share. There is no fresh issue, which means NSE will not receive any proceeds from the IPO. After issue-related expenses, the proceeds will go to the selling shareholders.
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The issue size was cut 15% from the 14.89 crore shares proposed in the draft red herring prospectus (DRHP) filed in June 2026.
NSE's share sale on Wednesday drew more than 150 anchor investors, with overseas funds collectively garnering 43% of the stock on offer for this category of bidders.
