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NSE IPOLISTED
National Stock Exchange of India (NSE) is India’s largest stock exchange, offering trading, clearing, settlement, listing, and market data services across multiple asset classes.
Listing price
₹1,800
Listing gain
+0.84%
Current
₹1,800
Listed
24 Sept 26
Opens
17 Sept 26Closes
21 Sept 26Allotment
22 Sept 26Refund
23 Sept 26Demat
23 Sept 26Listing
24 Sept 26Listed at
₹1,800
+0.84% on 24 Sept 26
Overview
Price band
₹1700-1785
Lot size
8 shares
Min. investment
₹14,280
Issue size
₹22561.57 Cr
12.64 Cr shares
Offer for sale
₹22,561.57 Cr
12.64 Cr shares
Face value
₹1 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Employee discount
₹170.00
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 3,77,93,739 | 29.89% |
| QIB | 2,52,07,868 | 19.94% |
| NII (HNI) | 1,89,00,482 | 14.95% |
| B-HNI | 1,26,00,321 | 9.97% |
| S-HNI | 63,00,161 | 4.98% |
| Individual | 4,41,01,125 | 34.88% |
| Employee | 4,33,137 | 0.34% |
| Total | 12,64,36,351 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 8 | ₹14,280 |
| Retail (Max) | 14 | 112 | ₹1,99,920 |
| S-HNI (Min) | 15 | 120 | ₹2,14,200 |
| S-HNI (Max) | 70 | 560 | ₹9,99,600 |
| B-HNI (Min) | 71 | 568 | ₹10,13,880 |
Listing performance
NSE/BSE: NSEListing gain
+0.84%
Gain per retail lot
₹120
Latest vs issue
—
GMP was
₹40 (+2.24%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
NSE Live GMP
Not enough GMP history yet to draw a trend.
Subscription
21 Sept, 08:45 pmOversubscribed 5.71 times · 38,45,783 applications
Total applications
38,45,783
Total bid amount
₹90,288 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 2,52,07,868 | 31,97,15,504 | 12.68x | ₹57,069 Cr |
| NII (HNI) | 1,89,00,482 | 12,37,51,624 | 6.55x | ₹22,090 Cr |
| B-HNI | 1,26,00,321 | 9,79,71,576 | 7.78x | ₹17,488 Cr |
| S-HNI | 63,00,161 | 2,57,80,048 | 4.09x | ₹4,602 Cr |
| Retail | 4,41,01,125 | 6,13,06,592 | 1.39x | ₹10,943 Cr |
| Employee | 4,33,137 | 10,38,808 | 2.40x | ₹185 Cr |
| Total | 8,86,42,612 | 50,58,12,528 | 5.71x | ₹90,288 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 1,05,003 | 1,38,343 | 1.32x |
| S-HNI | 52,501 | 1,73,943 | 3.31x |
| Retail | 55,12,641 | 33,99,709 | 0.62x |
| Employee | 0 | 43,116 | — |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
32.98%
PAT Margin
50.98%
ROCE
42.8%
EBITDA Margin
66.85%
RoNW
33.21%
Valuation vs listed peers
EPS Pre IPO
₹41.62
EPS Post IPO
₹50.43
P/E Pre IPO
42.89
P/E Post IPO
35.4
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| BSE Limited | 54.28 | — | — | — |
Peer median P/E 54.3× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+14.4%
Profit growth FY24 → FY26
+24.0%
P/E vs peer median
35.4× vs 54.3×
- PAT margin 51.0% and ROCE 42.8%.
- Priced below its listed-peer median P/E.
- 100% offer for sale — the company raises no new money.
Strengths & risks
- Market Leadership across key asset classes in India.
- Vertically Integrated Model spanning trading, clearing, settlement, listing and data services.
- Strong Technology Infrastructure supporting high volumes and low-latency execution.
- Diversified Portfolio across multiple asset classes and services.
- Strong Profitability and Cash Generation supported by scale and an asset-light model.
- Experienced Management and Governance backed by strong risk and compliance frameworks.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
The National Stock Exchange of India Ltd. IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding and the entire IPO proceeds will go to the selling shareholders.
Company & documents
National Stock Exchange of India Limited (“NSE”) is a key pillar of India's financial market infrastructure, operating a vertically integrated, multi-asset class platform offering trading, clearing, settlement, listing, market data, connectivity and licensing services.
Incorporated in November 1992, NSE operates across multiple asset classes and financial market segments, including the cash market, equity futures and options, commodity derivatives, currency derivatives, mutual funds, wholesale debt market and interest rate futures. Its integrated platform enables market participants to access a broad range of financial products and services while supporting the efficient functioning of India's capital markets.
As of March 31, 2026, NSE supported 253.66 million registered investor accounts and 129.09 million Unique Registered Investors, along with 1,325 trading members and 2,978 Listed Entities. The total market capitalisation of entities listed on the Exchange stood at ₹411.25 trillion, while ₹20.33 trillion was mobilised through its platform during Fiscal 2026.
NSE's proprietary technology infrastructure supports high-speed transactions and market operations. As of March 31, 2026, its platform processed approximately 12–14 billion messages daily with a capacity of around 5 million messages per second.
Beyond its core exchange operations, NSE provides clearing and settlement, listing, market data, connectivity and index licensing services. Through its subsidiaries, it manages the Nifty family of indices and operates NSE International Exchange at GIFT City.
The NSE Group also has interests in complementary businesses across the broader financial market infrastructure ecosystem, including mutual fund registry services, depository-related services, e-governance, mobile trading solutions and exchanges across commodities, power, receivables and coal.
Through its integrated ecosystem spanning trading, clearing, settlement, listing, technology, data, connectivity and index services, NSE plays an important role in facilitating capital formation, price discovery, risk management and investor participation in India's financial markets.
As of March 31, 2026, NSE had 1,974 full-time employees on a standalone basis. Its subsidiaries had an additional 907 full-time employees, taking the Group's total full-time workforce to approximately 2,881 employees.
Registrar
MUFG Intime India Pvt. Ltd.
Phone: 022-49186000
Email: nse.ipo@in.mpms.mufg.com
Web: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Company contact
National Stock Exchange of India Ltd.
Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, 400051
Phone: +91 22 2659 8100
Email: nse_ipo@nse.co.in
Book running lead managers
- HDFC Bank Limited
- Axis Capital Limited
- JM Financial Limited
- 360 ONE WAM Limited
- Equirus Capital Limited
- ICICI Securities Limited
- SBI Capital Markets Limited
- IIFL Capital Services Limited
- Anand Rathi Advisors Limited
- DAM Capital Advisors Limited
- Avendus Capital Private Limited
- J.P. Morgan India Private Limited
- Nuvama Wealth Management Limited
- Kotak Mahindra Capital Company Limited
- IDBI Capital Markets & Securities Limited
- Motilal Oswal Investment Advisors Limited
- Pantomath Capital Advisors Private Limited
- Citigroup Global Markets India Private Limited
- Morgan Stanley India Company Private Limited
- HSBC Securities and Capital Markets (India) Private Limited
Promoters
- No Identifiable Promoter
