NSE's unlisted shares 'attractively' valued

Expected IPO pushing demand higher among investors

- SAI ARAVINDH

The price of unlisted shares of the National Stock Exchange (NSE) shot up 32 per cent this week, going from 1,775 to 2,350 apiece. The rise is partly due to expectations of the NSE's initial public offering (IPO), according to analysts.

The exchange has a market valuation of ₹5.8 trillion, according to reports. Since September 2021, the stock's price has surged over 200 per cent.

The surge in the market price of unlisted NSE shares is also attributed to demand by retail and high-networth individual investors ahead of the IPO, according to Prashanth Tapse, senior vice-president for research at Mehta Equities.

"The surge is also driven by expectations of substantial listing gains, coupled with a significant demand-supply imbalance in the unlisted space. If a no-objection certificate (NOC) is granted and listing progresses as anticipated, the price of NSE shares in the unlisted market could see further upside," said Tapse.