India’s second-largest initial public offering (IPO), for National Stock Exchange (NSE), does not get fully subscribed on its first day. Exchange data cited by multiple outlets show investors bid for roughly 3.7–3.83 crore shares against 8.86 crore shares on offer, leaving the issue short of full subscription.
Subscription levels vary by investor category. Times of India reports non-institutional investors subscribe 72% of their quota and retail 44%. Economic Times similarly finds non-institutional participation leads at about 70%, retail at 43%, and qualified institutional buyers (QIBs) at 19%, indicating a weaker response from the institutional segment.
While both outlets focus on subscription performance, Economic Times also references the grey market premium. It notes the IPO’s GMP is around 9%, which it frames as suggesting expectations of a moderate listing gain. Times of India emphasizes the bidding and quota figures without adding GMP interpretation.
