NSE IPO Listing: National Stock Exchange of India Set to Debut on September 24 with GMP and Key Details
The National Stock Exchange of India (NSE) is set to make its stock market debut on September 24, 2026. The initial public offering (IPO) is valued at Rs 22,562 crore and consists entirely of an offer for sale (OFS). As the listing approaches, the grey market indicates a premium of approximately 2.4%, down from 4% earlier, suggesting limited gains at the time of listing.
NSE IPO Subscription
The Rs 22,562 crore public issue includes 12.64 crore shares offered by existing shareholders, with the NSE itself not selling any shares. Consequently, the exchange will not benefit financially from the IPO; proceeds will go directly to the shareholders involved in the OFS. The price band for the issue is set between Rs 1,700 and Rs 1,785 per share, with a lot size of eight shares. At the current grey market premium, the implied listing price is around Rs 1,828 per share.
Subscription for the IPO opened on September 17 and closed on September 21, attracting significant interest from various investor categories. The overall subscription rate reached 5.71 times, with retail investors subscribing 1.39 times, non-institutional investors at 6.55 times, and qualified institutional buyers (QIBs) showing the strongest demand at 12.68 times. Kotak Mahindra Capital Company Ltd., Morgan Stanley India Company Pvt. Ltd., and HSBC Securities & Capital Markets (India) Pvt. Ltd. are the book-running lead managers for the issue, while Link Intime India Pvt. Ltd. serves as the registrar.
NSE IPO GMP Today
The grey market premium (GMP) for the NSE IPO currently stands at Rs 43 per share, equivalent to 2.4%. This figure is calculated against the upper end of the IPO price band of Rs 1,785 per share, reflecting a decrease from the earlier premium of approximately 4%.
About NSE
The National Stock Exchange is the largest stock exchange in India, providing an integrated platform for trading, clearing, listing, data services, and index licensing. Its offerings encompass the cash market, futures and options, mutual funds, commodity derivatives, currency derivatives, the wholesale debt market, and interest rate futures. The NSE has maintained its position as India’s leading exchange by cash market turnover and equity derivatives turnover from FY01 through FY26. As of June 2026, the exchange had 132.4 million unique registered investors and 1,328 trading members, with 3,005 listed entities and a market capitalization of approximately Rs 474.1 trillion.
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