The allotment of shares for the National Stock Exchange’s (NSE) Rs 22,562-crore IPO is likely to be finalised today, following a strong response to the issue during its three-day bidding period.
India’s second-largest subscribed 5.71 times overall. Once the allotment is finalised, investors will be able to check online whether they have been allotted NSE shares. The stock is scheduled to make its BSE debut on September 24, 2026.
Kotak Mahindra Capital Company Ltd., Morgan Stanley India Company Pvt. Ltd. and HSBC Securities & Capital Markets (India) Pvt. Ltd. are the book-running lead managers for the issue, while MUFG Intime India Pvt. Ltd. is the registrar. NSE shares are expected to list on the BSE on September 24.
Read more: NSE IPO Tracker: Catch all the highlights here
How to check NSE IPO allotment online:
1. Registrar’s Website- Visit the MUFG Intime India IPO allotment page ( https://in.mpms.mufg.com/Initial_Offer/public-issues.html)
- Select National Stock Exchange of India from the drop-down menu.
- Enter your PAN, application number, or DP/Client ID.
- Click Submit to view your allotment status.
2. BSE Website ( https://www.bseindia.com/investors/appli_check)
- Select Equity under issue type.
- Select National Stock Exchange of India from the dropdown.
- Enter your application number OR PAN number.
- And fill the captcha and click search to view allotment.
NSE IPO GMP today
The NSE IPO’s grey market premium (GMP) is currently around Rs 65, or 4%, over the upper price band of Rs 1,785. This puts the estimated listing price at around Rs 1,850 per share, suggesting expectations of a moderate listing gain.
NSE IPO business model
NSE is India’s largest stock exchange and runs a vertically integrated platform across trading, clearing, listing, data services and index licensing. Its products span cash market, futures, options, mutual funds, commodity derivatives, currency derivatives, wholesale debt market and interest rate futures.
The exchange has held the top position in India by cash market turnover and equity derivatives turnover from FY01 to FY26. As of June 2026, NSE supported 132.4 million unique registered investors, 1,328 trading members and 3,005 listed entities with market capitalisation of about Rs 474.1 trillion.
NSE IPO strengths
NSE's biggest strength is its near-dominant market position. Its market share stood at about 93% in the cash market, 99.7% in equity futures and 68.5% in equity options by premium turnover as of June 2026.
YES Securities said almost all of India’s listed equity trading risk flows through one platform. It said NSE’s advantage is not just pricing, but a liquidity cycle where orders go where spreads are tight, companies list where trading activity exists, and deeper markets attract more participants.
NSE IPO financials
NSE reported revenue from operations of Rs 16,601 crore in FY26, down 3.1% from Rs 17,141 crore in FY25. Profit after tax fell to Rs 10,302 crore from Rs 12,188 crore. In Q1, revenue stood at Rs 4,560 crore, while PAT came in at Rs 3,120 crore.
Despite the fall in FY26 profit, margins remain strong. SBI Securities pegged NSE’s EBITDA margin at 67.6% in FY26 and 77.9% in Q1. PAT margin stood at 62.1% in FY26 and 68.4% in Q1.
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