The first IPO of 2017, first-ever IPO of the world-renowned stock exchange, the much awaited IPO has arrived to it’s listing date. Yes, you are right. It is the BSE. The share opened today on NSE and stunned each and everyone glued to the trading screen. The share got listed on its young rival, NSE at Rs 1,085, a 34.62 per cent premium over its issue price of Rs 806.
A marvellous Listing
Owing to a 20% premium in the grey market, market analysts expected a 5-15% premium on listing. However, the listing time shocked everybody. All those who were allotted the share observed a happy start to the day. Some bears might have booked profits after selling the stock, while bulls would hold the stock tight.
Despite such a hefty price band of Rs 805-806, the IPO was received impressively well. It received a massive 51 times subscription during the bidding period: January 23-25. The market lot size was fixed at 18 shares.
The grandeur of BSE
BSE operates in three segments, is India’s largest and world’s tenth largest exchange by market capitalisation.
As on June 30, 2016, BSE had 1,440 unique members across all segments. In FY16, average of 284.92 million orders and nearly 1.55 million trades in equity shares made BSE the world’s twelfth most active exchange.
History of BSE
Sensex is the benchmark index of BSE. Deepak Mohoni, a notable technical analyst happens to have coined the word Sensex in 1989. Sens-ex suggests ‘sensitive index’, which comprises 30 largest and most actively traded stocks on BSE.
The future Roadmap
Meanwhile, the exchange is preparing IPO for its arm CDSL. The exchange is required to cut its stake in CDSL from current 52 per cent as per Sebi directives.
The BSE stock currently trades at Rs.1,111 on NSE. Those holding this stock, I believe there are higher chances you get luckier on Monday or till 3:30 today.
