The National Stock Exchange of India has fixed a price band of ₹1,700-₹1,785 per share for its initial public offering, ending a long wait for the exchange’s market debut. Bidding is scheduled to open on September 17 and close on September 21.
The issue is entirely an offer-for-sale (OFS). Existing shareholders will sell 12,64,36,550 equity shares, equivalent to a 5.11% stake. The ₹22,568.92 crore proceeds will go to those selling shareholders, and NSE itself will not receive money from the offering.
IPO application details
Investors can apply for at least 8 equity shares and increase their application in multiples of that lot size. The minimum retail application is ₹14,820. High-income investors can apply for a minimum of 120 equity shares at a price of ₹2,14,200.
The allocation structure is divided across investor categories:
- Qualified institutional bidders: 50%
- Non-institutional investors: 15%
- Retail investors: 35%
Shareholders selling in the offer
The existing investors participating in the sale include State Bank of India, Canada Pension Plan Investment Board, Aranda Investments (Mauritius), MS Strategic (Mauritius), The New India Assurance Company Limited, SBI Capital Markets, Bank of Baroda, Stock Holding Corporation of India, General Insurance Corporation of India Limited and United India Insurance Company.
Listing and company profile
MUFG Intime India is the registrar for the issue. NSE’s shares are scheduled to list on September 24, 2026, only on BSE Limited.
Established in November 1992 and based in Mumbai, the National Stock Exchange of India is described as India’s largest stock exchange and one of the world’s leading multi-asset exchange platforms. Its activities include trading, clearing, settlement, listing, market data, index services and regulatory oversight across multiple asset classes.
Financial performance and GMP
For the financial year ended March 31, 2026, NSE reported total income of ₹18,713.37 crore and net profit of ₹10,302.06 crore. For financial year 2024-25, it reported revenue of ₹19,176.83 crore and net profit of ₹12,187.69 crore. Its market capitalisation at the stated valuation is ₹4.42 lakh crore.
The reported grey market premium (GMP) is ₹191, or 10% above the upper end of the price band. At that level, the implied listing price would be ₹1,976. The headline information also cites a GMP of ₹200, so the 2 figures should not be treated as identical.
Conclusion
NSE’s IPO is an offer-for-sale with a ₹1,700-₹1,785 price band, bidding from September 17 to September 21 and a proposed BSE listing on September 24, 2026. The proceeds will go to existing shareholders rather than the exchange.
Frequently Asked Questions
Q. What is the NSE IPO price band?
The price band is ₹1,700-₹1,785 per equity share.
Q. When will NSE IPO bidding open and close?
Bidding is scheduled to open on September 17 and close on September 21.
Q. What is the minimum retail application amount?
The minimum retail application amount is ₹14,820.
Q. How many shares can retail investors apply for initially?
Investors can apply for a minimum of 8 equity shares and then increase the quantity in multiples of that lot size.
Q. When is NSE’s IPO listing scheduled?
The proposed listing date is September 24, 2026, on BSE Limited.
Q. Will NSE receive the IPO proceeds?
No. The issue is an offer-for-sale, and the proceeds will go to existing shareholders selling their shares.
Q. What is the reported NSE IPO GMP?
The article reports a GMP of ₹191, while its headline cites ₹200.
