The initial public offering (IPO) of the National Stock Exchange of India (NSE) has attracted significant interest from institutional investors, with Life Insurance Corporation of India (LIC) emerging as the largest bidder in the issue.
The LIC submitted bids worth around ₹4,500 crore for NSE shares, reflecting strong participation from long-term domestic investors.
The subscription pattern showed that institutional investors dominated demand for the IPO, while retail participation remained relatively moderate.
LIC emerged as the biggest bidder, applying for shares worth nearly ₹4,500 crore.
Qualified Institutional Buyers (QIBs) showed strong interest in the issue.
The IPO received bids for around 5.7 times the shares offered.
More than 38.4 lakh applications were received from investors.
Total bids crossed ₹90,300 crore.
Several large domestic and global investors participated in the share sale along with LIC.
Major bidders included:
ICICI Prudential Asset Management Company, with bids of around ₹2,000 crore.
Quant Mutual Fund, with bids of around ₹2,000 crore.
Norges Bank Investment Management, with bids of around ₹1,000 crore.
Mirae Asset Mutual Fund, with bids of around ₹1,000 crore.
The participation of large funds highlights institutional confidence in NSE’s long-term growth potential.
The IPO subscription data showed a clear gap between institutional and retail investor demand.
The QIB category was subscribed nearly 12.7 times.
The retail investor portion received around 1.3 times subscription.
While institutional investors showed strong interest, individual investors appeared more cautious due to concerns over valuation and possible changes in derivatives trading activity.
Before the public issue opened, NSE raised ₹6,746.18 crore from 189 anchor investors at ₹1,785 per share.
LIC was the largest investor in the anchor book:
LIC invested around ₹400 crore.
The investment accounted for about 5.93% of the anchor portion.
Other major anchor investors included Abu Dhabi Investment Authority, Norway’s Government Pension Fund and Fidelity.
The NSE IPO was launched through an offer for sale (OFS) route.
Key details:
Issue size: Around ₹22,562 crore
Price band: ₹1,700–₹1,785 per share
Final issue price: ₹1,785 per share
Minimum lot size: 8 shares
IPO period: September 17–21
The allotment process is underway, with investors able to check their application status through the registrar, NSE or BSE platforms.
The NSE IPO has emerged as one of India’s largest public issues, attracting major institutional participation.
The strong demand from long-term investors comes despite concerns around valuation levels and future changes in market activity, especially in the derivatives segment. Investors are closely watching NSE’s growth outlook, regulatory environment and trading volumes after the listing.