Author: Nishtha Mehrotra | EQMint
http://www.linkedin.com/in/nishtha-mehrotra-642787291
The National Stock Exchange of India (NSE) IPO was fully subscribed on the second day of bidding on September 18, 2026, with strong demand from institutional and non-institutional investors for the ₹22,569-crore public issue.
The IPO opened on September 17 and is scheduled to close on September 21, 2026. NSE shares are expected to begin trading on September 24, 2026.
According to exchange data cited by Reuters, investors had placed bids for around 90 million shares against 88.6 million shares on offer as of 3:30 p.m. IST on September 18.
NSE IPO Subscription Status
Institutional investors accounted for a significant portion of the demand during the second day of bidding. The Qualified Institutional Buyers (QIB) category was subscribed 1.32 times, while the Non-Institutional Investors (NII) portion was subscribed 1.44 times.
The retail investor portion stood at 0.68 times at the time of the Reuters report.
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | 1.32x |
| Non-Institutional Investors (NIIs) | 1.44x |
| Retail Investors | 0.68x |
| Overall Issue | Fully subscribed |
NSE IPO: Key Details
The NSE IPO is valued at approximately ₹22,569 crore at the upper end of the price band. The price band has been fixed at ₹1,700 to ₹1,785 per equity share.
The issue is entirely an Offer for Sale (OFS) by existing shareholders, meaning the proceeds will go to the selling shareholders rather than directly to NSE.
| Particulars | Details |
|---|---|
| IPO Size | Up to ₹22,569 crore |
| Price Band | ₹1,700–₹1,785 per share |
| Issue Type | Offer for Sale |
| IPO Opens | September 17, 2026 |
| IPO Closes | September 21, 2026 |
| Expected Listing | September 24, 2026 |
NSE IPO Anchor Investors
Ahead of the public issue, NSE allocated shares worth approximately $703 million to anchor investors.
The anchor book included major domestic and global investors, including sovereign wealth funds from Norway and Abu Dhabi. Life Insurance Corporation of India (LIC) was also among the investors participating in the anchor allocation.
The anchor placement preceded the public subscription and contributed to the institutional participation surrounding NSE’s IPO.
Limited Public Float in NSE IPO
According to Reuters, only around 5.48% of NSE’s pre-offer capital will be freely sellable when the shares begin trading.
The IPO marks NSE’s long-awaited entry into the public markets following years of regulatory scrutiny and delays that had previously prevented the exchange from proceeding with a listing.
NSE’s Business and Market Position
The National Stock Exchange of India is one of the country’s major market infrastructure institutions and operates India’s largest stock exchange by several key trading metrics.
The IPO comes at a time when India’s derivatives market is undergoing regulatory changes and options trading activity has faced shifts. These developments have also formed part of the broader market discussion around NSE’s valuation and future growth prospects.
With the IPO, NSE’s financial performance, business model and valuation will come under greater scrutiny from public-market investors.
NSE IPO Listing Date
The NSE IPO is scheduled to close on September 21, 2026, with the shares expected to begin trading on September 24, 2026, subject to completion of the applicable IPO process.
Disclaimer: This article is for information purposes only and is not investment advice.
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