NSE IPO GMP drops 70%; still fully subscribed by Day 2

NSE's ₹22,562 crore IPO saw its gray-market premium crash 70% from ₹192 to ₹58, implying only ~3% listing gain over the ₹1,785 price. Despite weak retail participation due to high minimum investment, institutional demand drove full subscription by Day 2. NSE is set to list on BSE on September 24.