New Delhi, June 6 -- Everyone seems to want a piece of the National Stock Exchange (NSE) even before its anticipated public market debut. The bourse's unlisted shares are in short supply in the private market, having surged 40% since last week to shrink its discount to BSE Ltd.

"NSE shares were trading at a 50% discount to BSE's at least five-six months back," Sanat Mondal, head of private markets at SanctumWealth toldMint."In the last few weeks, the discount has narrowed in the range of 10-15%."

NSE's privately held shares are trading between Rs.2,375 and Rs.2,419 apiece. That's 48 times its FY25 earnings, according to UnlistedZone, a private market broker for retail investors. Rival BSE commands a multiple of 64.2 times its FY25 earni...