NS NSE IPO Loading... : Bullish and Bearish Analyst Opinions

NSE's IPO has been downsized with a price band of Rs 1,700-1,785, valuing it around $46 billion versus the $52-55 billion marketed. At the top end it is about 43x earnings versus roughly 25x for global exchanges, so valuation looks expensive, but NSE grows faster, has a 62% profit margin, and has 90%+ market share in equity products. Regulatory measures curbing derivatives speculation and weaker Indian equity momentum are risk factors for volumes and revenue, making the IPO a valuation debate rather than a clean buy.