NSE Joins India’s Top 10 Most Valuable Companies, Shares Jump Over 5% In A Milestone Session

Mumbai: National Stock Exchange of India (NSE) shares rose more than 5% above their IPO issue price during Thursday’s trading, lifting the newly listed exchange into the country’s 10 most valuable companies by market capitalisation.

The stock opened at ₹1,800 on the BSE, a modest 0.84% premium to its issue price of ₹1,785. It later climbed to ₹1,878, a gain of 5.21% over the issue price.

NSE Market Cap Reaches ₹4.55 Lakh Crore

At a market valuation of ₹4,54,966.88 crore, NSE ranked tenth among companies listed on the BSE. It moved narrowly ahead of Hindustan Unilever, valued at ₹4,54,845.62 crore. Sun Pharma’s market capitalisation stood at ₹4,46,985.57 crore, while rival exchange BSE was valued at ₹1,31,946.42 crore.

Reliance Industries led the valuation rankings at ₹16,67,750.07 crore. The other companies ahead of NSE were Bharti Airtel, HDFC Bank, ICICI Bank, State Bank of India, TCS, Bajaj Finance, Larsen & Toubro and LIC.

The gap between NSE and Hindustan Unilever was about ₹121 crore at the quoted valuations, leaving the tenth-place ranking sensitive to further share price movements.

India’s Second-Largest IPO

NSE’s ₹22,569-crore initial public offering was subscribed nearly six times by the final day of bidding on Monday, with strong demand from institutional investors. The issue drew bids worth nearly ₹90,300 crore, according to the reported figures.

The IPO comprised an offer for sale of up to 12.64 crore shares by existing shareholders. Its price band was set at ₹1,700–₹1,785 per share.

The offering became India’s second-largest IPO, behind Hyundai Motor India’s ₹27,870-crore issue in 2024 and ahead of LIC’s ₹21,000-crore issue in 2022.

NSE’s stock market debut followed nearly a decade of delays to its listing plans amid regulatory hurdles, including issues linked to the co-location controversy. Incorporated in 1992, the exchange began operations in 1994.