NSE IPO: Why did IFCI share price sky rocketed on Friday? - Indian IPO Blog

Sunday, December 11, 2016

NSE IPO: Why did IFCI share price sky rocketed on Friday?

The shares of IFCI Limited witnessed a sharp spike on Friday with the share closing as high as 16.42% up as compared to previous close. The counter which opened at Rs.23.40 reached an intra-day high of Rs.27.60 and closed at Rs.27.30 on a hefty turnover. Shares of IDBI Bank as well as SBI were up around 4% and 2.5% on the same day

Apparently, this movement was on the back of news that National Stock Exchange of India (NSE) is planning to come up with a gigantic IPO of about 100 billion rupees ($1.5 billion), which may be the country’s biggest listing in more than six years.

Among the listed entities on the exchange, State Bank of India has holding of 5.19%, whereas IFCI has holding of around 3% in NSE. Besides, IDBI Bank also holds close to 1.5% stake in the exchange. On June 30 and July 1, IFCI had made divestment to the extent of 2.25 lakh equity shares of National Stock Exchange at Rs.3,950 per equity share

Update: NSE files DRHP with SEBI: http://www.indianipoblog.in/2016/12/nse-files-drhp-for-ipo-with-sebi.html?m=1

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