Mumbai — National Stock Exchange Managing Director and CEO Ashish Kumar Chauhan said Thursday that the exchange’s stock market debut met expectations, delivering benefits to both selling shareholders and investors.
Speaking after NSE’s landmark listing on the BSE, Chauhan said the outcome of the public offering was fair for all stakeholders.
“The post-listing price has ensured that selling shareholders received a fair valuation, while investors who participated in the IPO also earned profits. Overall, I believe it has been a good outcome,” he said.
NSE shares closed at Rs 1,818 apiece, about 1 percent above the listing price and nearly 1.8 percent higher than the issue price of Rs 1,785. After a subdued opening, the stock climbed more than 5 percent during intraday trading.
The exchange ended the session with a market capitalization of nearly Rs 4.5 lakh crore.
Chauhan also highlighted NSE’s expansion over the past three decades, saying the exchange has grown steadily since it was established 32 years ago.
“From around 700 trades in its early days, NSE today handles nearly 30 crore trades. Its profitability has continued to grow year after year. As India’s economy expands, NSE’s growth will also continue alongside it,” he said.
Addressing NSE’s decision to list on a rival exchange, Chauhan said several stock exchanges around the world are self-listed, but India’s regulatory framework favors exchanges being listed on another platform.
He said NSE would continue presenting its views to regulators and policymakers when opportunities arise.
Chauhan said there are currently no plans to list NSE subsidiaries. However, he said the exchange could consider public listings if individual subsidiaries grow significantly and regulators determine that such a move is necessary.
The NSE chief also praised Prime Minister Narendra Modi’s economic leadership, saying the government has helped establish a strong economic framework for the country over the years. (Source: IANS)
