The National Stock Exchange of India (NSE) IPO opened for public subscription on 17 September 2026. Here are the key points you should know:
| Particular | Details |
|---|---|
| Company | National Stock Exchange of India Ltd (NSE) |
| IPO Type | Offer for Sale (OFS) |
| Issue Size | Around ₹22,569 crore |
| Price Band | ₹1,700 – ₹1,785 per share |
| Face Value | ₹1 per share |
| Lot Size | 8 shares |
| Minimum Investment | ₹14,280 at upper price band |
| IPO Opens | 17 September 2026 |
| IPO Closes | 21 September 2026 |
| Basis of Allotment | Expected 22 September 2026 |
| Expected Listing | 24 September 2026 |
| Listing Exchange | BSE |
| Issue Structure | Entirely OFS |
| Shares Offered | Around 12.64 crore shares |
1. Entirely an Offer for Sale
The NSE IPO is an OFS, meaning existing shareholders are selling their shares. NSE itself will not receive the IPO proceeds from the sale.
2. IPO Size
The IPO is valued at around ₹22,569 crore at the upper price band of ₹1,785. The issue has been reduced from the earlier proposed size of around ₹30,000 crore.
3. Minimum Investment
The lot size is 8 shares. At ₹1,785 per share, one lot requires an investment of ₹14,280.
4. NSE Shares Will List on BSE
Interestingly, NSE shares are expected to be listed on the BSE, its major domestic rival.
5. GMP
The Grey Market Premium (GMP) has been changing during the IPO period. Reports on 17 September were quoting premiums in the broad range of roughly ₹125–₹157 depending on the tracker. GMP is unofficial and can change quickly, so it should not be treated as a guaranteed listing price.
6. Anchor Investors
Before the public issue, NSE allocated shares worth about ₹6,746 crore to anchor investors at ₹1,785 per share. LIC was among the major anchor investors, along with institutions such as Norway’s Government Pension Fund and Abu Dhabi Investment Authority.
7. Important Dates
- IPO Opening: 17 September 2026
- IPO Closing: 21 September 2026
- Allotment: Expected 22 September 2026
- Listing: Expected 24 September 2026
Key takeaway: NSE’s IPO is one of India’s largest public issues, with a price band of ₹1,700–₹1,785 and a minimum investment of ₹14,280 for one lot. Since it is entirely an OFS, the money raised goes to the existing selling shareholders rather than directly to NSE.
How to apply for NSE IPO?
If you want to apply for the NSE IPO, you can apply online through your broker using the UPI/ASBA process.
- Open your demat/trading app
- For example, Zerodha, Groww, Upstox, Angel One, ICICI Direct, etc.
- Go to the IPO section
- Search for “NSE IPO”.
- Select the IPO and tap Apply.
- Enter the lot quantity
- NSE IPO lot size: 8 shares.
- At the upper price of ₹1,785, one lot requires ₹14,280.
- You can apply for multiple lots, subject to the applicable investor category limits.
- Select your bid price
- If you are a retail investor, selecting Cut-off generally means you agree to pay the final issue price determined within the price band.
- Enter your UPI ID
- Enter the UPI ID linked to your bank account.
- Submit the IPO application.
- Approve the UPI mandate
- You will receive a mandate request in your UPI app.
- Open your UPI app and approve the mandate.
- The required amount will be blocked in your bank account; it is generally not immediately debited.
- Wait for allotment
- After the IPO closes, shares are allotted according to the applicable basis of allotment.
- If you receive shares, the required amount is debited and the shares are credited to your demat account.
- If you don’t receive shares, the blocked amount is released.
Example
If you apply for 1 lot:
8 shares × ₹1,785 = ₹14,280
So, you need approximately ₹14,280 available in your bank account for the UPI mandate.
Important: Simply submitting the IPO application is not enough. You should also approve the UPI mandate before the deadline, otherwise the application can be rejected.
