Kya hua
NSE ki ₹22,561.60 crore ki IPO — India ki second-largest — 17 September se khulti hai, GMP sirf ~10.7% listing gain ka ishara de raha hai, jabki Hyundai, LIC aur Paytm jaisi badi issues loss me list hui thi.
National Stock Exchange ki ₹22,561.60 crore ki IPO 17 September se khul rahi hai — India ki ab tak ki second-largest public issue.
Grey market thanda hai: ₹192 ke GMP ke hisaab se listing ₹1,977 ke aas-paas — upper band ₹1,785 par sirf ~10.7% ka fayda.
History chetavni hai. Hyundai Motor India ki record ₹27,870 crore ki IPO debut day pe 7.12% giri — ₹1,960 se ₹1,820.40.
LIC ki ₹20,557 crore ki IPO ₹949 se ₹872 par khuli, aur ₹403.80 (bonus ke baad) pe 2022 ke allottees aaj bhi nuksan me hain.
Paytm aur bhi dukh raha tha: 9% discount pe list hui, pehle din 23%+ girke ₹1,560.80. Reuters ke mutabik 10 me se 7 badi IPOs day one pe giri.
India ki badi IPOs ka debut record
NSE ki issue se pehle bade heavyweight IPOs ka pehla-din record.
- May 2022 — LIC ₹949 issue price se ₹872 par khuli (-7.8%), ₹20,557 crore ki issue
- Dec 2022 — Paytm 9% discount pe list hui, pehla din ₹2,150 issue price se ₹1,560.80 pe khatam
- Oct 2024 — Hyundai Motor India, India ki sabse badi IPO (₹27,870 crore), debut pe 7.12% giri
- Sep 2026 — NSE IPO khulti hai, GMP sirf ~10.7% listing gain ka ishara
Apply karne se pehle kya sochein
NSE issue pure OFS hai — exchange me koi paisa nahi jaata — aur valuation 42.89x pre-IPO P/E pe bhaari hai, FY26 PAT ₹12,187.69 crore se ghatakar ₹10,302.06 crore raha.
- Bid window: 17–21 September 2026; price band ₹1,700–₹1,785; lot size 8 shares
- ₹192 ka GMP matlab ₹1,977 ke aas-paas listing — upper band se karib 10.7% upar
Kyun matter karta hai
Mega-IPO buzz me allottee lene wale investors ko listing-day loss ka real risk hai — size aur prestige ne pehle bhi protection nahi diya.
Money
Retail Investors · Market Participants
India ki sabse badi IPOs ke primary allottees ko baar-baar pehle-din nuksan hua hai — Hyundai -7.12%, LIC -7.8% (2026 me bhi loss me), Paytm -23% — NSE bidders ke liye bhi yahi listing-day risk hai.
Money
Retail Investors
NSE ka ₹192 GMP listing ₹1,977 ke aas-paas suggest karta hai — upper-band allottees ke liye sirf ~10.7% modest gain, mega-IPO expectations se kahin kam.
Daily Life
General Public · Retail Investors
Hyundai ko milakar India ki 10 sabse badi IPOs me se 7 pehle hi din giri thi — ghar-ghar ki yaad-dihani ki issue ka size aur prestige listing gain ki guarantee nahi hota.
Seedhi baat
Bada IPO bade returns ki guarantee nahi: India ki 10 sabse badi IPOs me se 7 day one pe giri.
India ki 10 sabse badi IPOs me se 7 pehle din giri. NSE ki ₹22,561 crore ki issue is hafte — size koi guarantee nahi.
Verified sources (7)
Amid mega NSE IPO, big question remains — Do big IPOs guarantee big returns? Performance of past heavy-sized IPOs
↗Hyundai Motor India drops 7% on debut after country's biggest ever IPO
↗LIC IPO: How LIC's IPO, India's biggest, ended in a downbeat debut
↗NSE IPO: Check GMP; price band Rs 1,700-1,785; bid opens on September 17
↗NSE IPO Price Band Set At Rs 1,700 To Rs 1,785 Per Share: Check GMP, Lot Size, And Issue Details
↗NSE IPO 2026 Review: Price Band, Dates, Lot Size & Financials
↗Paytm Shares make a listing on NSE at Rs. 1955, with 9% discount
↗Claims and linked sources
9 claimsThe NSE IPO, opening 17 September 2026 and closing 21 September 2026, is priced at ₹1,700–₹1,785 per share and is entirely an Offer for Sale (OFS) worth approximately ₹22,561.60 crore (12.64 crore shares) with a lot size of 8 shares — making it the second-largest public issue in Indian history after Hyundai Motor India.
Grey Market Premium for NSE shares is quoted around ₹189–₹192 per share, implying an estimated listing gain of roughly 10.6%–10.8% if the issue prices at the upper band of ₹1,785 — a tepid signal versus the mega-fanfare surrounding the deal.
Hyundai Motor India's record ₹27,870-crore IPO (India's largest ever, closing October 2024) crashed on its listing day, falling 7.12% from the ₹1,960 issue price to ₹1,820.40 on the NSE — a direct counterexample to the 'big IPO = big return' thesis.
Paytm's ₹18,300-crore IPO listed at a 9% discount (opening at ₹1,955 on BSE/₹1,950 on NSE against a ₹2,150 issue price) on 22 December 2022, and crashed to ₹1,560.80 by the end of the day — a 23%+ loss for investors who bought at the upper band.
LIC's ₹20,557-crore IPO (the then-largest in Indian history) listed at a 7.8%–8.1% discount — opened at ₹872 on NSE against a ₹949 issue price — on 17 May 2022 and has remained underwater for primary-market investors even years later.
LIC shares traded at ₹403.80 on the NSE last Friday (as of 14 September 2026), still a heavy loss-making affair for the original 2022 allottees after a 1:1 bonus share adjustment; 52-week high ₹468.48, low ₹360.75.
Reuters noted that including Hyundai, seven of India's ten biggest IPOs have seen share-price falls on their first day of trading — establishing that size alone does not protect primary-market returns.
Tata Technologies' IPO is cited by Livemint as the fourth case-study among recently listed large-sized IPOs that failed to reward primary investors, reinforcing the pattern across LIC, Paytm, Hyundai and Tata Technologies.
NSE reported FY26 total income of ₹18,713.37 crore and PAT of ₹10,302.06 crore, versus FY25 PAT of ₹12,187.69 crore — a sequential moderation that investors should weigh against the ₹4,41,787.50-crore IPO market cap at the pre-IPO P/E of 42.89x.