The much-awaited NSE IPO opened for subscription on September 17 and received a healthy response on its first day of bidding, with encouraging participation seen across investor categories.
The second-largest IPO ever in India closed its first day with bids for 3.83 crore shares against the 8.86 crore shares on offer, resulting in a .
The demand came mainly from retail investors and wealthy individuals, according to data on BSE Ltd.’s website. The portion reserved for non-institutional investors, or wealthy individuals, was subscribed 69%, while retail investors bid for about 42% of the shares set aside for them.
The decent demand follows the allocation of 3.779 crore shares to anchor investors on Wednesday at ₹1,785 apiece, the upper end of the price band. The allocation helped the company raise ₹6,746 crore, according to an exchange filing. The employee portion was also nearly fully subscribed.
Goldman Sachs, HSBC, Fidelity, and Eastspring were among the major investors in the anchor book. Sovereign wealth funds, including GIC and the Abu Dhabi Investment Authority, also participated, the filing showed.
The anchor book also attracted strong demand from domestic mutual funds and insurers. Life Insurance Corp., SBI Funds Management Ltd., and ICICI Prudential Asset Management Co. were among the largest anchor investors.
What does the latest NSE IPO GMP suggest?
NSE shares are trading at a modest, according to market sources. Based on the upper price band of ₹1,785 per share, the NSE IPO could list at around ₹1,933 per share.
Although the GMP has been falling lately, it rebounded to ₹148 from ₹125 earlier in the day. However, it stood at ₹160 on Wednesday. Market observers said the NSE IPO GMP has fallen from ₹285 to ₹125 over the past 10 days.
The NSE IPO GMP was ₹285 on September 4, 2026, when SEBI approved the launch of the IPO. This means the GMP has fallen by more than 55% over the past two weeks.
The GMP reflects the expected difference between an IPO’s issue price and its anticipated listing price in the unofficial market. However, it is only a preliminary indicator and should not be the sole factor considered while making investment decisions.
What are the key details of the NSE IPO?
The ₹, which means the company will not receive any proceeds from the IPO. Instead, existing shareholders will sell their shares.
NSE reduced the number of shares on offer to 12.644 crore from the 14.89 crore shares planned earlier, according to its updated prospectus. The exchange has set the price band at ₹1,700 to ₹1,785 per share for the shares being offered in the IPO.
NSE shares are expected to be listed on the Bombay Stock Exchange (BSE) on September 24. The allotment process is scheduled to be finalised by September 22, while shares are expected to be credited to eligible investors’ demat accounts on September 23.
Retail investors have been allotted 35% of the issue, while 50% is reserved for qualified institutional buyers (QIBs). The remaining shares have been earmarked for non-institutional investors (NIIs).
NSE first filed for an IPO in 2016, but its listing was delayed amid corporate-governance concerns and a co-location controversy, in which some brokers were alleged to have received preferential access to the exchange’s trading systems. The exchange recently settled the cases by paying ₹1,491 crore.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.