Why did NSE’s IPO attract strong investor demand?

NSE's IPO was subscribed 5.69 times by the time bidding closed on September 21, showing strong demand, mainly from institutional and wealthy investors. Investors were attracted by NSE's leading position in India's stock market, the chance to directly own shares in the country's biggest stock exchange, and the IPO's large size. Its ₹1,700-₹1,785 price range, below earlier valuations, also helped.