National Stock Exchange of India IPO was a mainboard issue of ₹22,562.71 Cr at a price band of ₹1,700 – ₹1,785 per share, open from 17 Sep 2026 to 21 Sep 2026. The shares listed on BSE on 24 Sep 2026 at ₹1800, a listing gain of 0.8% against the issue price of ₹1785.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Moderate Interest
GMP: +0% above issue price
⭐ Overall Signal
Moderate Interest
GMP + Subscription combined Not financial advice
Subscription Signal
Moderate Interest
0.00x subscribed
Issue Details
Fresh IssueNil
Offer for Sale (OFS)₹22,562.71 Cr
Total Issue Size₹22,562.71 Cr
Face Value₹1
Market Cap (at issue)₹4,41,788 Cr
Listing ExchangeBSE
📅 Open Date17 Sep 2026
🔒 Close Date21 Sep 2026
✂️ Cut-off Price Date21 Sep 2026
🎟️ Allotment Date22 Sep 2026
💸 Refund Initiation23 Sep 2026
📂 Demat Credit23 Sep 2026
📈 Listing Date24 Sep 2026
Objects of the Issue
💰 Entire issue is an offer for sale — proceeds go to the selling shareholders, not NSE
About the Company
National Stock Exchange of India (NSE), set up in 1992 and headquartered in Mumbai, is the country's largest stock exchange. It runs trading, clearing and settlement across equities, equity derivatives, currencies, commodities and debt, and also earns from data, index (NIFTY) and technology services. As of June 2026 it had about 3,005 listed companies and over 26 crore registered investor accounts. The IPO was entirely an offer for sale by existing shareholders, and because an exchange cannot list on its own platform, NSE shares are listed only on BSE.
Strengths
✅ Dominant market position — about 93% share of the cash market and nearly all of equity futures
✅ Very high profitability, with PAT of over ₹10,300 Cr in FY26 and net margins above 50%
✅ Large and growing investor base of over 26 crore registered accounts
✅ Owns the NIFTY index family and a clearing corporation, adding income beyond trading fees
Risk Factors
⚠️ Most revenue (about 79%) comes from transaction charges, so income falls when trading volumes drop
⚠️ Heavily regulated by SEBI, which has issued observations and notices on internal controls and technology
⚠️ PAT fell about 15% in FY26 compared with FY25, showing earnings can swing with market activity
⚠️ Past technology outages and cyber incidents are a reputational and regulatory risk
Subscription Status
Not yet open
QIB: —
NII: —
RII: —
GMP Trend
Day-wise Subscription
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NII
RII
Overall
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0.00x
Day 2
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Day 3
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Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for Mainboard IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
This company is professionally managed and has no identified promoter.
The NSE IPO was open from September 17 to September 21, 2026. Allotment was on September 22 and the shares listed on September 24, 2026.
The price band was ₹1,700 to ₹1,785 per share with a lot size of 8 shares, so one lot cost about ₹14,280 at the upper band.
An exchange cannot list its own shares on its own trading platform, so NSE shares are listed on BSE.
No. The entire issue was an offer for sale by existing shareholders, so NSE itself received no proceeds.
National Stock Exchange of India IPO is a mainboard IPO with an issue size of ₹22,562.71 Cr at a price band of ₹1,700 – ₹1,785. Minimum lot size is 8 shares (minimum investment ~₹14,280). Opened on 17 Sep 2026 and closed on 21 Sep 2026. Listed on BSE. Registrar: MUFG Intime India.
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Opened on 17 Sep 2026 and closed on 21 Sep 2026. Cut-off price date: 21 Sep 2026.
Lot size is 8 shares. At the upper price band of ₹1,785, minimum investment is approximately ₹14,280.
Allotment date is 22 Sep 2026. Refund initiation and demat credit were scheduled for 23 Sep 2026.
Listed on 24 Sep 2026 on BSE. Listing price was ₹1800 against the issue price of ₹1785 — a listing gain of 0.8%.
GMP is an unofficial grey-market indicator and can change at any time. Figures are compiled from publicly available sources for information only — this is not investment advice.Official references: SEBI · NSE · BSE
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