The National Stock Exchange (NSE) is set to make its much-awaited stock market debut on September 24, Thursday, marking a significant milestone for India’s capital markets. Investors will be closely monitoring the listing price and market response on debut day.
The NSE IPO had attracted strong investor interest during the issue period, with the exchange offering shares in the Rs 1,700–Rs 1,785 price band. The issue was structured as an offer for sale (OFS), meaning existing shareholders offered their holdings to public investors.
The Rs 22,562 crore public issue consists entirely of an offer for sale (OFS). A total of 12.64 crore shares are being offered by existing shareholders.
At the current grey market premium of 2.4%, the implied listing price works out to around Rs 1,828 per share, compared with the upper end of the IPO price band at Rs 1,785.
The National Stock Exchange of India‘s IPO drew more than $10 billion by the final day of bidding on Monday.
Last week, NSE had raised Rs 6,746 crore from anchor investors with the anchor book included state-owned Life Insurance Corporation of India, Goldman Sachs and Fidelity, along with sovereign wealth funds such as GIC Singapore, Abu Dhabi Investment Authority and Norges Bank, Eastspring and HSBC Global Asset Management also participated in the anchor round.
National Pension Scheme Trust (NPS Trust), LIC, BNP Paribas Financial Markets, Societe Generale, ICICI Mutual Fund, Nomura Singapore, Quant Mutual Fund, WhiteOak Capital MF and Mirae Asset Mutual Fund were among the top 10 bidders, reports said.
NSE IPO is the second-largest public issue in India’s history and the biggest IPO of 2026 so far.
The QIB portion was subscribed 12.68 times, while the non-institutional investor (NII) portion was subscribed 6.55 times. The retail portion was subscribed 1.39 times, while the employee portion received 2.40 times subscription.