BSE Limited shares fell over 3% during Friday morning trading. The stock price dropped to Rs 3,193 per share. This decline follows the National Stock Exchange (NSE) announcing the price band and dates for its rival initial public offering.
The NSE IPO opens on September 17. The offering aims to raise approximately Rs 22,662 crore. This listing ends BSE’s status as India’s only publicly traded stock exchange.
Bernstein analysts maintained an Underperform rating on BSE stock. The firm cites slowing retail participation as a primary concern. Analysts expect BSE’s market share gains to peak by FY27.