September 24 is set to be an important day for India’s primary market, with the much-awaited NSE IPO scheduled to list on the BSE and Varmora Granito’s public issue entering its final day of bidding.
The NSE IPO, valued at ₹22,561.57 crore, concluded its subscription process on September 21 with an overall subscription of 5.71 times. The issue was entirely an Offer for Sale (OFS), meaning existing shareholders offered shares rather than the National Stock Exchange raising fresh capital through the issue.
Editorial Insight
Key Highlights
Important points readers should notice.
Issue/Event: NSE IPO listing and final day of Varmora Granito IPO subscription
Location: Indian stock markets
Authority/Organisation: National Stock Exchange of India / BSE
Action Taken: NSE allotment completed ahead of its September 24 listing; Varmora Granito IPO remains open until September 24
Impact: Investors and market participants will track the NSE debut while the primary market continues to see fresh IPO activity
The NSE IPO was offered in a price band of ₹1,700 to ₹1,785 per share, with a lot size of eight shares. The issue is scheduled to list on the BSE on September 24. The allotment process has already been completed, with shares being credited ahead of the listing.
The listing will bring NSE’s equity shares into public market trading for the first time. According to Reuters, only about 5.48% of NSE’s pre-offer capital will be freely tradeable at launch, a factor being watched in connection with the available public float.
At the same time, Varmora Granito’s ₹708.02 crore IPO will remain open until September 24. The issue carries a price band of ₹140–₹148 per share, with a minimum lot size of 101 shares, requiring ₹14,948 at the upper end of the price band. The company is scheduled to list on the NSE and BSE on September 29, subject to the stated timetable.
Editorial Analysis
Why This Matters
The NSE listing will give public-market investors direct exposure to the equity of India's largest stock exchange by trading activity. The debut also comes during a period of heightened activity in India's IPO market. For the broader primary market, Varmora Granito's final subscription day provides another data point on investor demand for newly issued shares.
The Varmora Granito issue combines a fresh issue with an Offer for Sale. The fresh issue component is intended partly for repayment or pre-payment of borrowings, while the remaining proceeds are earmarked for general corporate purposes.
