The NSE IPO will open for subscription on Thursday, 17 September, and will close on Monday, 21 September. The NSE IPO price band has been set at ₹1,700- ₹1,785 per equity share, with a face value of Re 1 per share. The NSE IPO lot size is 8 equity shares, and bids can be placed in multiples of 8 shares thereafter. NSE IPO subscription for the public issue will open at 10:00 IST on Thursday during the deals.
NSE IPO GMP today
NSE IPO GMP today, or grey market premium, is +125. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of NSE share price was indicated at ₹1,910 apiece, which is 7% higher than the IPO price of ₹1,785.
Considering trading activity over the past 14 sessions, the current IPO GMP trend shows a decline, indicating reduced grey market interest. Throughout this timeframe, the premium has fluctuated, ranging from a low of ₹125 to a high of ₹310, according to expert analysis.
The NSE IPO allotment basis is expected to be finalised on Tuesday, 22 September. The company is likely to begin processing refunds on Wednesday, 23 September, while shares are expected to be credited to the demat accounts of successful allottees on the same day.
NSE share price is likely to be listed on both the BSE and NSE on Thursday, 24 September.
NSE IPO review
At the upper price band, SBI Securities said NSE is valued at a FY26 price-to-earnings (P/E) multiple of 42.9x. The brokerage said India’s deepening capital markets and growing participation from global investors provide a favourable backdrop for the exchange. It identified NSE’s expansion into newer product categories, market leadership and revenue diversification, supported by its comprehensive technology platform, as key growth drivers. SBI Securities said NSE is well positioned to benefit from the structural growth of India’s capital markets.
Religare Broking, however, struck a more cautious note on valuations. At a P/E multiple of 42.9x, the brokerage said the valuation reflects NSE’s established market position and future growth potential but leaves limited room for earnings disappointments. It highlighted regulatory developments, including SEBI measures related to options trading, as key factors that could influence trading volumes and transaction-based income.
While Religare Broking remains positive on the long-term growth opportunity in India’s capital markets, it said the sustainability of earnings growth will depend on trading activity, regulatory stability and continued market participation. Given the balance between structural growth opportunities, regulatory uncertainties and valuation considerations, the brokerage assigned a Neutral rating.
Angel One took a more favourable view of the valuation. At the upper price band of ₹1,785, it said NSE is valued at a post-issue P/E of 35.4x, compared with 54.2x for BSE, making the issue attractive relative to its key listed peer. The brokerage also pointed to NSE’s dominant market position, higher revenue and profitability, strong market share in equity derivatives and the long-term structural growth potential of India’s capital markets.
Despite near-term regulatory headwinds for derivatives volumes, Angel One said NSE’s competitive position and earnings potential support a favourable entry point and recommended Subscribe to the IPO.
NSE IPO details
NSE has scaled back the size of its proposed IPO, cutting the number of shares on offer to 12.644 crore from the 14.89 crore planned earlier, according to its red herring prospectus filed in Mumbai late Thursday.
The revised offer represents around 5.1% of the company’s equity capital, compared with nearly 6% under the earlier plan. The issue will comprise entirely an offer for sale (OFS) of existing shares, with no fresh equity issuance.
As a result, proceeds from the IPO, after deducting offer-related expenses, will go to the selling shareholders. The issue is primarily intended to facilitate the OFS and enable the listing of NSE’s equity shares on the BSE.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
