New India Assurance share price witnessed profit booking on June 23 after gaining about 45% over the previous 8 trading sessions following the filing of draft papers for the National Stock Exchange's proposed IPO.
As of 11:20 AM on June 23, 2026, New India Assurance share price was trading at ₹201, down ₹11.17 or 5.20%. The stock opened at ₹211.71, touched an intraday high of ₹211.91 and a low of ₹197.81.
The recent rally in the stock came after NSE filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed ₹30,000 crore initial public offering.
According to the DRHP, New India Assurance Company is among the shareholders participating in the offer for sale (OFS) component of the IPO.
The insurer plans to sell up to 1.05 crore NSE equity shares with a face value of Re 1 each. The weighted average cost of acquisition of these shares is ₹0.32 per share.
The proposed NSE IPO consists entirely of an offer for sale of 14.89 crore equity shares, with existing shareholders collectively divesting nearly 6% stake in the exchange.
Market participants attributed the sharp rally in New India Assurance shares to the value-unlocking opportunity arising from its investment in NSE.
Several institutional shareholders are expected to monetise part of their holdings through the IPO. Among state-owned insurers, General Insurance Corporation of India plans to sell up to 1.066 crore shares acquired at ₹5.26 per share.
Other insurance companies participating in the offer include National Insurance Company, United India Insurance Company and The Oriental Insurance Company, which had acquired their stakes at acquisition costs below Re 1 per share.
The draft prospectus indicates that the top 10 investors participating in the offer for sale could collectively realise gains of around ₹24,500 crore based on acquisition costs and the proposed valuation.
State Bank of India is expected to realise gains of approximately ₹4,700 crore from its stake sale. Morgan Stanley-backed MS Strategic (Mauritius), Temasek's Aranda Investment arm and the Canada Pension Plan Investment Board are also among the shareholders participating in the offer for sale.
New India Assurance share price declined on June 23 as investors booked profits after a sharp rally linked to the proposed NSE IPO. The insurer is among the shareholders participating in the offer for sale and plans to sell up to 1.05 crore NSE shares through the public issue.
Investors interested in IPO opportunities can open a demat account to apply for public issues and participate in the stock market.
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Published on: Jun 23, 2026, 11:53 AM IST
Rakesh Deshmukh
Rakesh Deshmukh is a financial content specialist with around 3 years of experience writing impactful content across equities, mutual funds, IPOs, and personal finance. At Angel One, he decodes real-time market trends and breaking news, helping investors and traders stay updated. He also helps investors make informed decisions by simplifying market fundamentals and technical analysis. He holds a bachelor’s degree in commerce.
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