{"id":2181,"date":"2026-09-24T08:32:51","date_gmt":"2026-09-24T08:32:51","guid":{"rendered":"https:\/\/newsraise.com\/in\/2026\/09\/24\/nse-shares-surge-bse-debut-10th-most-valuable\/"},"modified":"2026-09-24T08:32:51","modified_gmt":"2026-09-24T08:32:51","slug":"nse-shares-surge-bse-debut-10th-most-valuable","status":"publish","type":"post","link":"https:\/\/newsraise.com\/in\/2026\/09\/24\/nse-shares-surge-bse-debut-10th-most-valuable\/","title":{"rendered":"NSE shares surge 5% on BSE debut, becoming India&#8217;s 10th most valuable firm"},"content":{"rendered":"\n<!-- Quick Adsense WordPress Plugin: http:\/\/quickadsense.com\/ -->\n<div class=\"9fece8afa224fd09e54b043d0febfb58\" data-index=\"1\" style=\"float: none; margin:10px 0 10px 0; text-align:center;\">\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- NR ATF -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-8898941184964366\"\r\n     data-ad-slot=\"4839033563\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n<\/div>\n<p>The National Stock Exchange of India (NSE) made a historic entry onto the Bombay Stock Exchange (BSE) on Thursday, September 24. The exchange services provider opened at a flat price of \u20b91,800 per share, a modest 0.84% premium to its IPO issue price of \u20b91,785, before climbing to an intraday high of \u20b91,878 \u2013 a rise of 5.2% from the opening level.<\/p>\n<h2>Listing performance and market impact<\/h2>\n<p>Despite the near\u2011flat opening, investor demand pushed NSE shares higher throughout the morning session. The 5.2% jump marked the strongest first\u2011day movement for the stock since its listing and placed the company among India\u2019s most valuable publicly traded firms. At the peak of trading, NSE\u2019s market capitalisation reached approximately \u20b94.8\u202flakh\u202fcrore, elevating it to the position of the tenth\u2011largest company in the country by market value. In doing so, NSE surpassed several well\u2011known blue\u2011chip names, including Hindustan Unilever, Sun Pharma, Titan, Adani Ports, Infosys and Kotak Mahindra Bank.<\/p>\n<p>The strong price action came on the back of a fully subscribed offering and heightened interest from both institutional and retail investors. While the listing itself was an offer\u2011for\u2011sale (OFS) issue \u2013 meaning the proceeds are directed to the selling shareholders rather than the company \u2013 the market\u2019s response signalled confidence in NSE\u2019s future growth prospects.<\/p>\n<h2>Analyst perspective: \u2018The Dominator\u2019<\/h2>\n<p>Australian investment firm Macquarie Group released a detailed note on the listing, describing NSE as \u201cThe Dominator\u201d within its market segment. The analysts highlighted the exchange\u2019s leading market\u2011share position, comprehensive service suite, robust technology stack and deep liquidity as key attributes that make it a central pillar of India\u2019s financialisation.<\/p>\n<p>Macquarie\u2019s commentary stressed several structural advantages that underpin NSE\u2019s outlook. Entrenched network effects, industry\u2011leading profitability and strong cash generation were cited as drivers of a positive medium\u2011term trajectory. The firm also noted NSE\u2019s plans to expand its platform, which it expects to fuel additional revenue growth.\n<\/p>\n<p>On the risk side, the analysts pointed to the newly introduced closing auction session (CAS) format as a source of near\u2011term pressure. Nonetheless, they maintained a constructive long\u2011term view, stating, \u201cSuperior fundamentals justify a premium multiple. There is room for further re\u2011rating if new products accelerate.\u201d<\/p>\n<h2>Financial performance and valuation metrics<\/h2>\n<p>Recent consolidated financial results reinforce the bullish narrative. In the April\u2011June quarter of the fiscal year 2026\u201127, NSE reported a net profit of \u20b93,120\u202fcrore, representing a 6.7% year\u2011on\u2011year increase from \u20b92,923.85\u202fcrore in the same quarter a year earlier.<\/p>\n<p>Revenue from core operations grew 13% to \u20b94,560.41\u202fcrore during the June quarter, up from \u20b94,032.23\u202fcrore recorded in the first quarter of the previous fiscal year. Operating profitability also improved, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 14% YoY to \u20b93,594.24\u202fcrore, compared with \u20b93,129.74\u202fcrore a year prior.<\/p>\n<p>Margin expansion further underscored the company\u2019s efficiency gains. EBITDA margins widened by 119 basis points, reaching 78.81% in the June quarter versus 77.62% in the comparable period last year.<\/p>\n<h2>IPO subscription dynamics<\/h2>\n<p>The NSE IPO attracted strong demand across all investor categories. Overall, the issue was subscribed 5.71 times, with bids totaling 50,58,11,384 equity shares against the 8,86,42,911 shares made available for public subscription.<\/p>\n<p>Qualified institutional buyers (QIBs) led the subscription, booking the offer 12.68 times. Non\u2011institutional investors (NIIs) followed with a 6.55\u2011times subscription, while retail investors subscribed at 1.39 times.<\/p>\n<p>Because the offering was structured as an OFS issue, all proceeds are directed to the selling shareholders. The list of sellers includes National Insurance Co., United India Insurance, MS Strategic Mauritius, Canada Pension Plan Investment Board and Aranda Investments Mauritius.<\/p>\n<p>Overall, the combination of a robust subscription, a decisive price rally, and strong underlying fundamentals positions NSE as a pivotal player in India\u2019s capital markets landscape. Market participants will be watching closely how the exchange leverages its expanded platform and product suite to sustain growth and whether the \u201cDominator\u201d tag translates into continued premium valuation in the months ahead.<\/p>\n\n<div style=\"font-size: 0px; height: 0px; line-height: 0px; margin: 0; padding: 0; clear: both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The National Stock Exchange of India listed on the BSE on September 24, jumping 5.2% and moving into the top ten Indian companies by market value.<\/p>\n","protected":false},"author":4,"featured_media":2182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[299],"tags":[2340,1365,2342,2341,214],"class_list":["post-2181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bse-listing","tag-indian-stock-market","tag-ipo-subscription","tag-macquarie-analysis","tag-nse","entry"],"_links":{"self":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/2181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/comments?post=2181"}],"version-history":[{"count":0,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/posts\/2181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media\/2182"}],"wp:attachment":[{"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/media?parent=2181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/categories?post=2181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsraise.com\/in\/wp-json\/wp\/v2\/tags?post=2181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}