NSE’s IPO may deliver 6,400-fold return for early backers

NSE's upcoming IPO is set to deliver extraordinary returns for early backers, with grey market shares trading at about 2,055 rupees apiece. SBI, selling 24.75 million shares, stands to gain about 50 billion rupees ($529 million) on shares acquired at 80 paise between 1993 and 1999, marking a roughly 2,568-fold return. Other founding shareholders including Stock Holding Corporation, National Insurance, New India Assurance and Oriental Insurance could see returns as high as 6,422 times, while Temasek and Morgan Stanley are positioned for about 33-fold and 31-fold gains respectively.