What happened
NSE fixed its IPO price band at ₹1,700-1,785 per share; the all-OFS issue of 12.644 crore shares opens September 17 and closes September 21, 2026.
NSE has fixed the price band for its IPO at ₹1,700 to ₹1,785 per share (face value ₹1). The issue opens for subscription on Thursday, September 17, 2026 and closes on Monday, September 21, 2026. Anchor investor allocation is scheduled for September 16.
The lot size is 8 shares (and multiples of 8). At the upper end of the band (₹1,785), the minimum retail application is ₹14,280 and the maximum investment is capped at ₹1,99,920.
The issue is entirely an offer for sale (OFS) of 12.644 crore shares — cut about 15% from the 14.89 crore planned in the June 2026 DRHP — with no fresh equity. All proceeds go to the selling shareholders (SBI, Canada Pension Plan Investment Board, Aranda Investments, MS Strategic, New India Assurance and others), not to NSE.
At the upper end, the issue seeks to raise about ₹22,561.5 crore, implying an NSE valuation of roughly ₹4.42 lakh crore (~$46 billion). Listing is expected on September 24 on BSE (and NSE, per Livemint), with basis of allotment tentatively on September 22.
This is India's largest stock exchange going public — NSE first filed its IPO papers in December 2016 and this has taken nearly a decade to reach this stage. Reservation norms: not more than 50% for QIBs, not less than 15% for NIIs, and not less than 35% for retail investors.
The grey market premium (GMP) is around ₹189-190 per share, implying an expected listing near ₹1,975 (about a 10.6% gain) — but GMP is purely speculative, not a guarantee. NSE has earmarked shares worth up to ₹70 crore for employees, with a ₹170-per-share discount off the final IPO price for eligible employees. BSE shares fell nearly 3% intraday on September 11, which market watchers partly linked
What is confirmed
Facts corroborated by the sources listed below.
- NSE fixed its IPO price band at Rs 1,700 to Rs 1,785 per share.
- The IPO opens September 17 and closes September 21, 2026; anchor allocation is September 16.
- The issue is an all-OFS of 12.644 crore shares, cut ~15% from 14.89 crore in the June 2026 DRHP, with no fresh equity.
- At the upper band the issue seeks to raise about Rs 22,561.5 crore, implying an NSE valuation of roughly Rs 4.42 lakh crore (~$46 billion).
Why it matters for me
At the upper band the issue aims to raise about ₹22,561.5 crore, implying an NSE valuation of ~₹4.42 lakh crore; proceeds go to selling shareholders, not to NSE.
IPO Subscription Window
Retail Investors · IPO Applicants
The IPO opens on September 17 and closes on September 21, 2026; anchor allocation is on September 16.
Shareholding · Listing Gains
Retail Investors · IPO Applicants
The entire issue is an OFS of 12.644 crore shares (cut ~15%), so all proceeds go to selling shareholders and NSE receives no fresh equity funding.
Listing Gains · Retail Returns
Retail Investors · IPO Applicants
Grey market premium of ~Rs 189-190 implies a listing near Rs 1,975 (~10.6% gain) but is speculative and not a guarantee.
Competing Exchange Valuations
Stock Market Followers
BSE shares fell nearly 3% intraday on September 11, partly linked to competitive pressure from the NSE IPO price band announcement.
What to remember
Apply based on your own research — grey market premium is speculative, and this is an OFS with the listing expected around September 24.
NSE sets its IPO price band at ₹1,700-1,785; issue opens Sep 17, closes Sep 21.
Verified sources (5)
NSE IPO: Price band set at ₹1,700-1,785 per share; check key dates, issue details
↗NSE IPO: Issue size cut 15% to ₹22,562 crore; price band fixed at ₹1,700-1,785
↗NSE IPO Price Band Set At Rs 1,700 To Rs 1,785 Per Share: Check GMP, Lot Size, And Issue Details
↗NSE IPO to open on September 17 at Rs 1,700-1,785 per share
↗NSE IPO: Opening Date, Price, GMP, Size, Key Dates, All You Need To Know
↗Claims and linked sources
9 claimsNSE fixed its IPO price band at Rs 1,700 to Rs 1,785 per share.
The IPO opens September 17 and closes September 21, 2026; anchor allocation is September 16.
The issue is an all-OFS of 12.644 crore shares, cut ~15% from 14.89 crore in the June 2026 DRHP, with no fresh equity.
At the upper band the issue seeks to raise about Rs 22,561.5 crore, implying an NSE valuation of roughly Rs 4.42 lakh crore (~$46 billion).
Lot size is 8 shares; at Rs 1,785 retail minimum is Rs 14,280 and maximum Rs 1,99,920.
Reservation: not more than 50% QIB, not less than 15% NII, not less than 35% retail.
Listing expected September 24 on BSE (and NSE per Livemint); basis of allotment tentatively September 22.
GMP of ~Rs 189-190 implies a listing near Rs 1,975 (~10.6% gain) but is speculative.
NSE first filed IPO papers in December 2016; it is India's largest stock exchange.