The National Stock Exchange of India (NSE) has implemented a new regulation to standardise price discovery during the pre-opening session for SME IPOs. Effective 4 July 2024, this move aims to bring consistency across exchanges and potentially curb excessive volatility in the opening price.
Under the new rule, a price cap of 90% above the issue price will be applied to all SME IPOs. This means the opening price cannot surge more than 90% compared to the price at which the shares were offered during the IPO.
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