Mumbai, Sep 24 — National Stock Exchange (NSE) Managing Director and CEO Ashish Kumar Chauhan on Thursday said the exchange's stock market debut met expectations, with both selling shareholders and investors benefiting from the listing.
Speaking to IANS after NSE's landmark listing on the BSE, Chauhan said the outcome was fair for all stakeholders involved in the public issue.
"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 ended the day at Rs 1,818 apiece, about 1 per cent higher than the listing price and nearly 1.8 per cent above the issue price of Rs 1,785. Despite a muted start, the stock gained more than 5 per cent during intra-day trade. The exchange commanded a market capitalisation of nearly Rs 4.5 lakh crore at the close of trading.
Highlighting NSE's growth journey over the past three decades, Chauhan said the exchange has consistently expanded since its inception 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.
On the decision to list the exchange on a rival platform, Chauhan noted that several exchanges around the world are self-listed. However, India's regulatory framework favours stock exchanges being listed on another exchange. He said NSE would continue to present its views to regulators and policymakers whenever an opportunity arises.
Commenting on the possibility of listing NSE's subsidiaries, Chauhan said there are currently no plans to take them public. However, he added that if any subsidiary grows significantly and regulators deem a listing necessary, the exchange would consider it.
The NSE chief also praised Prime Minister Narendra Modi's economic leadership, saying the government had helped establish a strong economic framework for the country over the years.