National Stock Exchange of India IPO
LISTEDMAINBOARDListing Performance
▲ 0.84%
Issue Price
₹1,785
Listing Price
₹1,800
Listed On
24 Sep 2026
- Price Band
- ₹1,700 – ₹1,785
- Lot Size
- 8
- Lot Value
- ₹14,280
- Open Date
- 17 Sep17 Sep 2026
- Close Date
- 21 Sep21 Sep 2026
- Min Investment
- ₹14,280
About National Stock Exchange of India
Earns revenue from transaction charges on trading, clearing and settlement services, listing fees, data services, and connectivity charges.
Investment Analysis
Quick Analysis: 3 strengths · 6 risk factors· Exchange: Equity
Strengths (3)
- •Derives majority revenue from derivatives trading with high market participation
- •Significant infrastructure investment in technology systems and platforms
- •Diversified revenue streams across multiple trading segments and services
Risk Factors (6)
- •First public offer with no established market for equity shares; floor price, cap price, and offer price may not indicate post-listing trading price or market demand.
- •Significant accounting differences exist between Indian Accounting Standards (Ind AS), US GAAP, and IFRS; company provides no reconciliation or quantification of impacts.
- •No assurance of active or sustained trading in equity shares after listing; offer price should not be considered indicative of actual market price.
- •Equity investments carry high risk; investors may lose entire investment if unable to afford the risk or if equity share value declines substantially.
- •Company lacks identifiable promoter structure, which may affect governance, strategic direction, control, and accountability mechanisms compared to promoter-led companies.
- •SEBI has not recommended or approved equity shares; SEBI provides no guarantee of accuracy or adequacy of prospectus contents.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 5.67x (QIB 12.68x, NII 6.54x, Retail 1.32x) at close
Application Lot Sizes
Retail caps at ₹2,00,000 (14 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 8 | ₹14,280 |
| Retail (max) | 14 | 112 | ₹1,99,920 |
| S-HNI (min) | 15 | 120 | ₹2,14,200 |
| S-HNI (max) | 70 | 560 | ₹9,99,600 |
| B-HNI (min) | 71 | 568 | ₹10,13,880 |
Subscription Status
| Category | Day 1 | Day 2 | Day 5 |
|---|---|---|---|
| QIB | 0.19x | 1.53x | 12.68x |
| sNII (S-HNI) | — | — | — |
| bNII (B-HNI) | — | — | — |
| Retail | 0.42x | 0.70x | 1.32x |
| Total | 0.41x | 1.13x | 5.67x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
1.32x
Allotment Ratio
1 lot per 2 applicants
Allotment Probability
~75.8%
Non-Institutional Investors (NII / HNI)
Subscription
6.54x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
12.68x
Allotment Type
Discretionary allotment
Total Subscription
5.67x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
17 Sep 2026 · Thu
Issue Closes
21 Sep 2026 · Mon
Bidding Cut-off (UPI Mandate)
21 Sep 2026 · 5:00 PM IST
Allotment
22 Sep 2026 · Tue
Listing
24 Sep 2026 · Thu
Issue Opens
17 Sep 2026 · Thu
Issue Closes
21 Sep 2026 · Mon
Bidding Cut-off (UPI Mandate)
21 Sep 2026 · 5:00 PM IST
Allotment
22 Sep 2026 · Tue
Listing
24 Sep 2026 · Thu
IPO Details
| Registrar | MUFG Intime India Private Limited |
| Exchange | Equity |
| ISIN | — |
| Face Value | ₹1 |
| Issue Size | ₹22561.57 Cr |
| Fresh Issue | — |
| OFS Size | ₹26579.64 Cr |
| Lead Managers | Morgan Stanley India Company Private Limited, SBI Capital Markets Limited, ICICI Securities Limited, HDFC Bank Limited, JM Financial Limited, Kotak Mahindra Capital Company Limited |
3-Year Financial Summary
Financial data not available yet.
Check the valuation yourself
Company Fundamentals
7 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in National Stock Exchange of India's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in National Stock Exchange of India's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in National Stock Exchange of India's filing.
Source: National Stock Exchange of India offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
Reservation split not disclosed in this filing.Not disclosed in National Stock Exchange of India's filing.
OFS Selling Shareholders
- —14,89,05,525 sh
Source: National Stock Exchange of India offer document (DRHP/RHP).
Board & Management
Board & management not disclosed in this filing.Director/KMP details were not extracted from National Stock Exchange of India's filing.
Industry & Market
NSE is the largest stock exchange in India with 92.99% market share in cash market, 99.79% in equity futures, and 74.71% in equity options as of Fiscal 2026
Per Redseer Report / SEBI, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| BSE Limited | 66.67 | — | — | — |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Tax | Company | 33 | 107.781 |
| Tax | Company | 10 | 83.274 |
| Tax | Subsidiaries | 29 | 590.356 |
| Tax | Subsidiaries | 8 | 83.249 |
| Tax | Directors | 1 | 2.5 |
Direct tax litigation involving the Company Indirect tax litigation involving the Company Direct tax litigation involving Subsidiaries Indirect tax litigation involving Subsidiaries Direct tax litigation involving Directors
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:MUFG Intime India Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the National Stock Exchange of India IPO opening?
The National Stock Exchange of India IPO opens on 17 Sep 2026 and closes on 21 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the National Stock Exchange of India IPO?
The price band for the National Stock Exchange of India IPO is ₹1,700 to ₹1,785. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the National Stock Exchange of India IPO?
The minimum lot size is 8 shares with a minimum investment of ₹14,280. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of National Stock Exchange of India IPO today?
The latest Grey Market Premium for National Stock Exchange of India is ₹65 (+3.64%). GMP is unofficial data and is not a guarantee of listing price.
When will the National Stock Exchange of India IPO list on NSE and BSE?
The National Stock Exchange of India IPO is expected to list on 24 Sep 2026 on Equity. Actual listing day trading begins at the start of the normal market session.
How can I check the National Stock Exchange of India IPO allotment status?
The registrar for this IPO is MUFG Intime India Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the National Stock Exchange of India IPO a mainboard or SME issue?
National Stock Exchange of India is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the National Stock Exchange of India IPO?
You can apply for the National Stock Exchange of India IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of National Stock Exchange of India IPO?
The GMP-implied price (unofficial, not a forecast) is ₹1,850: the upper price band of ₹1,785 plus the latest grey market premium of ₹65, as of 28 Sep 2026, 01:01 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for National Stock Exchange of India IPO?
Based on the retail subscription of 1.32x, the estimated allotment ratio is 1 lot per 2 applicants (approximately 75.8% chance of allotment). This is an estimate and actual allotment may vary.
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