Mumbai, September 8, 2026 (Yes Punjab News)
Shares of New India Assurance Company Ltd (NIACL) and IFCI came under heavy selling pressure on Tuesday, falling as much as 14 per cent as the grey market premium (GMP) of the proposed National Stock Exchange (NSE) initial public offering declined sharply.
NIACL shares dropped 13.71 per cent to an intraday low of Rs 199.52, compared with the previous close of Rs 231.20. Around noon, the stock was trading 9.50 per cent lower at Rs 209.50 on the NSE.
NIACL holds a 1.42 per cent stake in NSE. Its shares had gained nearly 30 per cent in the past few weeks amid expectations surrounding the exchange’s proposed IPO.
IFCI shares also witnessed a sharp decline, touching an intraday low of Rs 92.75, nearly 10 per cent below their previous close of Rs 102.51. The stock was trading 8.11 per cent lower at Rs 94.16 around noon.
IFCI has a 52 per cent holding in Stock Holding Corporation of India Ltd (SHCIL), which in turn owns around 4.4 per cent of NSE. IFCI shares had rallied as much as 40 per cent over the preceding few weeks before Tuesday’s decline.
The NSE IPO’s GMP has corrected significantly in recent days. It fell to Rs 221 on September 8 from Rs 310 on September 5, according to market estimates.
The proposed NSE IPO also received a regulatory development earlier this month, with the Securities and Exchange Board of India (SEBI) issuing an observation letter for the exchange’s proposed Rs 30,000-crore public issue.
Separately, BSE Managing Director and CEO Sundararaman Ramamurthy said NSE had confirmed that it would not seek permission to trade on its own exchange after listing, according to reports.
The clarification came amid reports that NSE could potentially trade its own shares on its platform under the permitted-to-trade (PTT) category.
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