Historic Moment: BSE Share Lists at Rs 1089 on NSE, Up 35% Over Issue Price
Bombay Stock Exchange (BSE) created history on Friday as its shares listed at Rs 1089 per share on the National Stock Exchange (NSE), up 35 percent over its issue price of Rs 806.
The Bombay Stock Exchange (BSE) logo is seen at the BSE building in Mumbai, India, January 25, 2017/REUTERS
New Delhi: Bombay Stock Exchange (BSE) created history on Friday as its shares listed at Rs 1089 per share on the National Stock Exchange (NSE), up 35 percent over its issue price of Rs 806.
The stock surged as much as 48.8 percent in early trade to hit highest level of Rs 1,200.
In pre-opening session, it settled 34.6 percent higher at Rs 1085 (the lowest level intraday) against issue price. BSE, which was the first share sale by a domestic stock exchange, recently concluded its Rs 1,243-crore initial public offering that was opened for bidding on January 23-25.
Shareholders offered 1.54 crore shares for sale that was 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. The IPO saw robust investor demand and was oversubscribed 51.22 times.
The bourse is the world's largest exchange by number of listed companies. Shares of nearly 3,000 companies trade on BSE. It is the world's 10th largest exchange by market capitalisation.
The market capitalisation of BSE-listed companies stands at Rs 1,14,50,863 crore.
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