NSE IPO news: After a nearly decade-long wait, the initial public offering (IPO) of the National Stock Exchange (NSE) has finally received approval from the market regulator, SEBI, to raise funds through a public issue. Upon receipt of the observation letter from SEBI, the grey market became active for the NSE IPO. According to IPO Watch, the NSE IPO GMP (grey market premium) today is ₹200. However, the NSE has yet to announce the IPO price band, subscription opening date, and other details.
NSE IPO | Expected price band
Speaking on the expected NSE IPO price band, Sandeep Pandey, Co-founder of Basav Capital, said, “The market valuation of the NSE IPO is around ₹30,000 crore, and the total number of shares offered is around 14.89 crore. So, the exact price of the NSE’s shares is around ₹2015 ( ₹30,000 crore / 14.89 crore).”
If the NSE IPO is launched at a customary 10% to 15% premium, then we can expect the NSE IPO price band to be in the ₹1800 to ₹1900 range. However, if the NSE decides to maximise its IPO returns, the public issue may come at a higher valuation, and the NSE IPO price band may fall in the ₹2000 to ₹2200 range.
By quoting its anonymous sources, Reuters reported that large prospective investors, including Indian mutual funds, indicated they would be comfortable buying shares at around ₹1,800 apiece.
NSE IPO | Expected date of subscription opening
According to Reuters, the NSE is targeting a listing in the week starting September 21. So, the NSE IPO listing date may fall on 21 September 2026 at the earliest and 25 September 2026 at the latest. Quoting its anonymous sources, Reuters further reports that NSE is expected to begin book-building on September 11, with the price band likely to be announced on September 15.
NSE IPO details
The IPO could rank among India’s biggest-ever, alongside billionaire Mukesh Ambani’s Jio. NSE has been valued at about $55 billion in the unlisted market, according to Reuters estimates, potentially placing it among the country’s 10 most valuable companies by market capitalisation.
“Post-listing NSE will be top 10 among India’s largest companies in terms of market cap, which will garner huge interest from the market,” said Deven Choksey, managing director of fund and wealth manager DRChoksey FinServ.
“At an expected price-to-earnings valuation of around 35 times, the IPO would provide investors with headroom (for gains) after listing,” Choksey added.
Post-listing, NSE rival BSE has seen its shares surge 28-fold since going public in 2017.
(With inputs from Reuters)
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