India’s unlisted shares market is having its biggest moment yet. After years of delays, the National Stock Exchange (NSE) has finally filed for its Initial Public Offering (IPO). Jio Platforms followed soon with draft papers. The two blockbuster public issues, together targeting to raise Rs 60,000- 65,000 crore, have put the spotlight on a market that was once the preserve of a small group of investors, where shares are traded through dealers rather than on stock exchanges.The numbers explain the frenzy. NSE’s unlisted share price has more than tripled, from about Rs 670 in July 2023 to around Rs 2,085 now. The PRIMEX-40, an index of 40 leading unlisted companies compiled by Wealth Wisdom India Private Limited (WWIPL), has delivered a compounded annual return of 20.9% over three years, against 12% for the Nifty 500 index. But the same data carries a warning: over the past year, the PRIMEX-40 has fallen 12.4% even as the Nifty 500 stayed flat, and NSE’s own unlisted price is down 5.2%. The easy money, it seems, has already been made.Who got in early? ET Wealth spoke to five investors who bought NSE shares long before the IPO became a certainty. Their stories are a reminder of the opportunities as well as the traps of this market.NSE Unlisted price (Rs.)
Investing before an IPO: As NSE, Jio Platforms prepare to list, five early investors reveal the rewards, risks, and patience required - The Economic Times
ET Wealth spoke to five investors who bought NSE shares long before the IPO became a certainty. Their stories are a reminder of the opportunities as well as the traps of this market. The five journeys chronicled above have a common thread: NSE has been the wealth creator. The earliest institutional-style buyers did even better.
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