GMP IPO Watch
NSE IPO
NSE IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
NSE IPO Details
Key facts at a glance| IPO Open Date | 16 September 2026 | IPO Close Date | 20 September 2026 |
|---|---|---|---|
| Basis of Allotment | 21 September 2026 | Listing Date | 23 September 2026 |
| Price Band | ₹1700 - ₹1785 per share | Face Value | ₹10 per share |
| Market Lot Size | 8 Shares | Min Investment (Retail) | ₹14,280 |
| Total Issue Size | ₹22,561.57 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | — | Offer for Sale (OFS) | ₹22,561.57 Cr |
| Listing At | BSE | Issue Category | Mainboard Issue |
| Registrar | TBA | ||
NSE IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 16 September 2026 | Confirmed |
| IPO Close Date | 20 September 2026 | Confirmed |
| Basis of Allotment | 21 September 2026 | Tentative |
| Initiation of Refunds | 23 September 2026 | Tentative |
| Credit of Shares to Demat | 23 September 2026 | Tentative |
| IPO Listing Date | 23 September 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 21 September 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
NSE IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 8 Shares | ₹14,280 |
| Retail (Max) | 14 Lots | 112 Shares | ₹1,99,920 |
| S-HNI (Min) | 15 Lots | 120 Shares | ₹2,14,200 |
| S-HNI (Max) | 70 Lots | 560 Shares | ₹9,99,600 |
| B-HNI (Min) | 71 Lots | 568 Shares | ₹10,13,880 |
NSE IPO Live GMP & Movement History
Daily unofficial grey market trends₹40 +2.2%
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 23 Sept 2026 | ₹43 | ₹1828.00 | +2.41% |
| 22 Sept 2026 | ₹65 | ₹1850.00 | +3.64% |
| 21 Sept 2026 | ₹48 | ₹1833.00 | +2.69% |
| 19 Sept 2026 | ₹111 | ₹1896.00 | +6.22% |
| 18 Sept 2026 | ₹124 | ₹1909.00 | +6.95% |
| 17 Sept 2026 | ₹125 | ₹1910.00 | +7.00% |
| 16 Sept 2026 | ₹160 | ₹1945.00 | +8.96% |
| 11 Sept 2026 | ₹188 | ₹1973.00 | +10.53% |
| 7 Sept 2026 | ₹285 | ₹2070.00 | 15.97% |
| 6 Sept 2026 | ₹285 | ₹2070.00 | 15.97% |
NSE IPO Subscription Status
Demand breakdown by investor categoryNSE Company Financials
Restated figures (₹ in Crores)| Period | Total Assets | Total Revenue | Total Expenses | Profit After Tax (PAT) |
|---|---|---|---|---|
| 2024 | 65,463.98 Cr. | 16,352.06 Cr. | 3,608.79 Cr. | 8,305.74 Cr. |
| 2025 | 69,466.64 Cr. | 19,176.83 Cr. | 4,806.29 Cr. | 12,187.69 Cr. |
| 2026 | 87,937.44 Cr. | 18,713.37 Cr. | 5,999.90 Cr. | 10,302.06 Cr. |
| June 2026 | 91,334.07 Cr. | 5,252.17 Cr. | 1,172.03 Cr. | 3,120.08 Cr. |
* Amounts reported in ₹ Crores as sourced from company regulatory filings (RHP/DRHP).
NSE IPO Valuation & KPIs
Key metrics pre-issueNSE Peer Group Comparison
Listed industry peers| Company Name | P/E | EPS (₹) | RoNW (%) | NAV (₹) | Total Income |
|---|---|---|---|---|---|
| BSE Limited | 66.67 | 60.61 | 45.00 | 163.60 | 4833.95 Cr. |
About NSE
The National Stock Exchange of India (NSE) is a premier market infrastructure institution providing electronic trading, listing, clearing, and settlement services across equities, derivatives, debt, and mutual funds. It offers colocation, connectivity, data feeds, and index licensing. Supported by robust technology for risk management and surveillance, NSE generates its primary revenue from transaction charges, supplemented by listing, clearing, data center, and licensing fees.
Key Strengths
- NSE operates one of India’s largest electronic trading platforms across multiple asset classes.
- The company has diversified revenue streams from trading, listing, clearing, data, connectivity and licensing services.
- Its technology infrastructure can process very high transaction volumes with low response times.
- NSE has a large and diverse customer base including issuers, trading members, investors and data users.
- The company has established risk management, surveillance and investor protection mechanisms to support market operations.
Key Risks
- A significant drop in trading activity could materially reduce the company’s revenue and profitability.
- NSE derives a major portion of its revenue from transaction charges, particularly options and futures trading.
- Failures or disruptions in its technology systems could affect trading operations and investor confidence.
- The business depends on regulatory approvals, and delays or rejections could limit new product launches.
- A large share of revenue comes from a limited number of trading members, creating customer concentration risk.
NSE IPO Reservation & Share Quotas
The NSE IPO reservation details show how the shares offered in the issue are proposed to be distributed among different investor categories. The reservation structure provides separate allocations for Qualified Institutional Buyers, Non-Institutional Investors and Retail Individual Investors.
As per the provided allocation, 50% of the shares are reserved for QIB investors excluding the anchor portion, while NII investors are offered 15% and retail investors are offered 35%. The anchor investor allocation will be specified separately.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Note: NSE IPO reservation figures are based on the allocation details provided above and may be updated with the final issue structure.
NSE IPO Anchor Investors
The NSE IPO anchor investor process is scheduled to take place before the public issue opens. Anchor bidding allows eligible institutional investors to participate in the issue ahead of the main subscription period and provides an indication of institutional participation.
The anchor investor list and final allocation details will provide information about the institutions participating in the issue, the number of shares allocated to them and the overall anchor portion. The applicable lock-in periods are also shown below.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 16, 2026 |
| Shares Offered | [.] Shares |
| Anchor Size | – Cr. |
| Lock-in Period End Date 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date 50% Shares (90 Days) | 2026 |
Note: Anchor investor details are based on the issue information provided above and may be updated after the final anchor allocation is announced.
NSE IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 17 Sept 2026 |
| IPO Close Date | 21 Sept 2026 |
| Basis of Allotment | 22 Sept 2026 |
| Refunds | 23 Sept 2026 |
| Credit to Demat Account | 23 Sept 2026 |
| IPO Listing Date | 24 Sept 2026 |
Note: The timeline for NSE IPO is tentative and subject to change.
NSE Promoters and Shareholding Pattern
The company does not have identifiable promoters. As a result, the entire shareholding is classified under the Others category in the provided pre-IPO and post-IPO holding pattern.
The shareholding structure remains unchanged in terms of the total shares shown in the provided data, with 100% of the shares held under the Others category both before and after the IPO.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | – | -% | – | -% |
| Others* | 2,47,50,00,000 | 100% | 2,47,50,00,000 | 100% |
| Total | 2,47,50,00,000 | 100% | 2,47,50,00,000 | 100% |
Note: The holding pattern is based on the shareholding details provided for the NSE IPO. *Others includes shareholders who are not classified as promoters or promoter group.
NSE Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
NSE About the IPO
NSE was founded in 1992 and known as the stock exchange by SEBI in April 1993. NSE started operations in 1994 along with the wholesale debt market afterward, let the market known as stock buy and sell. The National Stock Exchange (NSE) is an important institution with global recognition. It is a reliable market organization known for maintaining high standards of corporate governance.
Moreover, the NSE is considered a substantial exchange and a main for driving India’s economic growth. NSE has one of the largest derivatives markets in the world, trading options and futures on indices, stocks, and other securities. This platform is a strong state-of-the-art technology that provides high levels of robustness, safety, and resilience. This is for trading and investment opportunities for all kinds of investors.
NSE Company Financial Report
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 16,352.06 Cr. | 3,608.79 Cr. | 8,305.74 Cr. | 65,463.98 Cr. |
| 2025 | 19,176.83 Cr. | 4,806.29 Cr. | 12,187.69 Cr. | 69,466.64 Cr. |
| 2026 | 18,713.37 Cr. | 5,999.90 Cr. | 10,302.06 Cr. | 87,937.44 Cr. |
| June 2026 | 5,252.17 Cr. | 1,172.03 Cr. | 3,120.08 Cr. | 91,334.07 Cr. |
Note: Financial numbers for NSE are in ₹ Crores unless stated otherwise.
NSE Company Valuation & Key Performance Indicators
| KPI | Values |
|---|---|
| ROE | 32.98% |
| ROCE | 42.80% |
| EBITDA Margin | -% |
| PAT Margin | 50.98% |
| Debt to Equity Ratio | - |
| Earning Per Share (EPS) | 41.62 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 33.21% |
| Net Asset Value (NAV) | 129.75 |
Note: Valuation KPIs for NSE are computed for FY2026.
NSE Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| BSE Limited | 60.61 | 66.67 | 45.00 | 163.60 | 4833.95 Cr. |
Note: Peer group comparisons for NSE are sourced from DRHP filings.
NSE Lead Managers & Merchant Bankers
- Kotak Mahindra Capital
- JM Financial
- Axis Capital
- IIFL Capital Services
- Motilal Oswal Investment Advisors
- ICICI Securities
- SBI Capital Markets
- Nuvama Wealth Management
- HDFC Bank
- Avendus Capital
- Morgan Stanley India
- Citigroup Global Markets India
- JPMorgan India
- HSBC Securities India
- IDBI Capital
- 360 ONE WAM
- Anand Rathi Advisors
- DAM Capital Advisors
- Pantomath Capital Advisors
- Equirus Capital
NSE IPO FAQs
NSE IPO opens for subscription on 16 September 2026 and closes on 20 September 2026.
The price band for NSE IPO is set at ₹1700.00 to ₹1785.00 per share.
The minimum market lot size is 8 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 8 Shares (₹14,280).
The latest Grey Market Premium (GMP) for NSE IPO is ₹40. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for NSE IPO is tentatively scheduled for 21 September 2026, and shares are expected to list on the stock exchanges on 23 September 2026.
The registrar details will be confirmed in the official prospectus.