NEW DELHI, Feb 3: Shares of BSE made a stellar debut at the National Stock Exchange (NSE) today, surging nearly 35 per cent against the issue price of Rs 806.
The stock listed on NSE at Rs 1,085, reflecting a huge jump of 34.61 per cent over the issue price. Later, it touched a high of Rs 1,200, up 48.88 per cent.
On the volume front, over 15 lakh shares of the exchange were traded during the early trade on NSE. The combined market capitalisation of BSE-listed companies also hit a record high of Rs 115 lakh crore.
The issue by BSE, also the first share sale by a domestic stock exchange, was open to bidding on January 23-25. The IPO saw robust investor demand and was oversubscribed 51.22 times.
During the initial share sale, shareholders offered 1.54 crore shares estimated to be worth around Rs 1,243.44 crore at the higher end of the price band. The price band was fixed at Rs 805-806.
BSE’s initial share sale is also the first this year after 26 companies together garnered Rs 26,000 crore through IPOs in 2016, making it the best year for public offers since 2010.
The bourse is the world’s largest exchange by number of listed companies. Shares of nearly 3,000 companies trade on BSE, which was earlier known as the Bombay Stock Exchange.
It is the world’s 10th largest exchange by market capitalisation. (PTI)