The long-awaited National Stock Exchange of India (NSE) IPO is set to make its stock-market debut on September 24, 2026, with the shares scheduled to list on the BSE. Ahead of the much-anticipated debut, the grey market indicates a 2.2% premium over the IPO’s upper price band of Rs 1,785 per share. The GMP has moderated from around 4% earlier, pointing to a relatively modest premium at listing.
The Rs 22,562-crore NSE IPO comprises entirely an offer for sale (OFS) of 12.64 crore shares. Since there is no fresh issue, NSE itself will not receive any proceeds from the IPO; the money raised will go to the existing shareholders selling their stakes. NSE had fixed the IPO price band at Rs 1,700–1,785 per share, with a lot size of eight shares.
The IPO was open for subscription from September 17 to September 21 and attracted strong demand across investor categories. The issue was subscribed 5.71 times overall, with the retail portion subscribed 1.39 times. The NII category saw 6.55 times subscription, while the QIB segment recorded the highest demand at 12.68 times.
Read more: NSE IPO Tracker: Catch all the highlights here
For the IPO, Kotak Mahindra Capital Company Ltd., Morgan Stanley India Company Pvt. Ltd. and HSBC Securities & Capital Markets (India) Pvt. Ltd. are acting as the book-running lead managers. MUFG Intime India Pvt. Ltd. is the registrar to the issue.
