New Delhi, September 23: The National Stock Exchange of India (NSE) is set to make its stock market debut on September 24, 2026, with its shares scheduled to begin trading on the BSE. With the listing just a day away, the grey market is indicating a premium of around 2.4%. The premium has moderated from about 4% earlier, suggesting a potentially limited gain over the issue price at the time of listing.
The ₹22,562-crore public issue consists entirely of an offer for sale (OFS), with 12.64 crore shares being offered by existing shareholders. Since NSE is not selling any shares in the issue, it will not receive any money raised through the IPO. The proceeds will instead go to the shareholders participating in the OFS.
NSE had fixed the price band at ₹1,700-₹1,785 per share, with a lot size of eight shares. At the current grey market premium of 2.4%, the implied listing price is around ₹1,828 per share, compared with the upper end of the IPO price band at ₹1,785. The IPO opened for subscription on September 17 and closed on September 21, drawing strong interest across investor categories. Overall, the issue was subscribed 5.71 times.
The retail investor portion was subscribed 1.39 times, while the non-institutional investor (NII) segment received 6.55 times subscription. Qualified institutional buyers (QIBs) recorded the strongest demand, with their portion subscribed 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. is the registrar.
Also Read: Banks To Remain Open On September 27 Ahead Of 3-Day Nationwide Strike
