NSE shares fall below IPO price amid broader market crash; here’s how you should trade

Reports coming in for today mention that National Stock Exchange of India (NSE) shares declined below their initial public offering (IPO) price on Monday amid earnings booking in the stock, days after its market debut.

The stock hit a low of Rs 1,761 per share, down more than 1 percent from the previous close. The decline came as Indian equity markets declined sharply, with market participants remaining wary amid rising crude prices following a stalemate in US-Iran peace talks.

NSE shares had settled nearly 2 percent elevated on their market debut on September 24, valuing the exchange at Rs 4.49 lakh crore and placing it among the world's top seven exchanges.

The stock listed at Rs 1,800, a 0.84 percent premium over its IPO price of Rs 1,785 on the BSE. During the session, it rose 5.21 percent to Rs 1,878 before closing at Rs 1,818, up 1.85 percent over the offering price.

NSE had a market valuation of Rs 4,49,955 crore at the end of its debut session. Its valuation stood at Rs 4,37,580 crore on Monday, a slide of Rs 12,375 crore.

The Rs 22,569-crore IPO of NSE, the country's second-largest public offering, was subscribed 5.71 times, with firm demand from institutional market participants. The offering received bids for 50.58 crore shares against 8.86 crore shares on offer.

The exchange had set a price range of Rs 1,700-1,785 per equity share for the IPO, with the offer price set at Rs 1,785 per share.