The National Stock Exchange of India
Ltd’s ₹22,569 crore ($2.3 billion) initial
public offering opened for subscription on Thursday.
The issue was subscribed 0.09 times as of 10:20 a.m. IST,
according to exchange data.
The $2.3-billion IPO is one of India’s biggest-ever IPOs and
comes at a time when the primary market is attracting major
issuers, including billionaire Mukesh Ambani-backed Jio
Platforms, which is expected to list by year-end.
NSE’s float would cap a decade-long effort in which
regulatory scrutiny and legacy legal issues repeatedly delayed
its listing.
The stock exchange operator on Wednesday allotted shares
worth $703.04 million to marquee global and domestic investors,
including the sovereign wealth funds of Norway and Abu Dhabi, as
part of its anchor book allocation ahead of the IPO.