National Stock Exchange of India Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹1700 - ₹1785
- Lot size
- 8 shares
- Issue amount
- ₹22,561.6 cr
- Total subscription
- 5.71×
- Opens
- 17 Sept 2026
- Closes
- 21 Sept 2026
- Allotment
- 22 Sept 2026
- Listing
- 24 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 12,64,36,650 shares
- Face value
- ₹1 per share
- Minimum investment
- ₹13,600
- Fresh issue
- ₹0 cr
- Offer for sale
- ₹22,561.6 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,280
- Issue type
- Bookbuilding IPO
- Shares before issue
- 2,47,50,00,000
- Shares after issue
- 2,47,50,00,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 8 | ₹14,280 |
| sHNI | 15 | 120 | ₹2,14,200 |
| bHNI | 71 | 568 | ₹10,13,880 |
Share reservation
Subscription & GMP
Subscription by category
Reported 21 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 55,12,641 | 33,99,708 |
| EMPLOYEES | 0 | 47,228 |
| HNIs(10L +) | 1,05,003 | 1,38,343 |
| HNIs (2-10L) | 52,501 | 1,73,943 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 4,499.6 | 57,069.22 |
| FIIs | 0 | 25,046.97 |
| FIs | 0 | 12,131.3 |
| Mutual Funds | 0 | 9,654.14 |
| Others | 0 | 10,236.81 |
| RETAIL | 7,872.05 | 10,943.23 |
| HNIs 2+ | 1,124.58 | 4,601.74 |
| HNIs 10+ | 2,249.16 | 17,487.93 |
| EMPLOYEES | 77.37 | 185.43 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| EPS | 12.61 | 41.62 | 49.24 | 33.56 |
| ROE | 9.26 | 32.98 | 44.87 | 37.37 |
| ROCE | 11.55 | 42.8 | 52.11 | 45.5 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 42.88 | 0 | 0 |
| POST IPO(PE) | 35.4 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| NSE Limited | 42.88 | 0 | 1 | 129.75 | 33.21 | 41.62 |
| BSE limited | 54.28 | 0 | 2 | 163.60 | 45.00 | 60.61 |
Company information
Company profile
NSE, incorporated as National Stock Exchange of India Limited in 1992, is one of India's leading market infrastructure institutions and a major multi-asset class exchange. It commenced operations in 1993 and introduced electronic screen-based trading in 1994, becoming a pioneer in technology-driven trading in India. NSE operates a vertically integrated business model covering listing and trading, clearing and settlement, market data, indices, and other financial market services. Its product offerings include equities, fixed-income securities, ETFs, SME securities, and derivatives across equity, indices, currency, interest rates, and commodities. With a strong focus on technology, risk management, reliability, transparency, and investor protection, NSE continues to expand its products and services while supporting the development of a more efficient and inclusive Indian financial market.
Strengths
- Market Leader in India: The company has been one of India’s leading stock exchanges across cash market, equity derivatives and currency derivatives. In Fiscal 2026, it was also the world’s largest derivatives exchange by contracts traded for the seventh consecutive year.
- Strong Growth Opportunity from India’s Capital Markets: Rising incomes, digital adoption and increasing investment by individuals are expected to drive more investors, higher trading volumes and greater demand for financial products.
- Strong & Trusted Brand: The company has built a strong reputation for trust, transparency and efficient market operations. Its early adoption of electronic trading helped improve accessibility, reduce manual processes and increase market transparency.
Risk factors
- Dependence on Trading Volumes: The company’s revenue depends significantly on trading activity. A decline in transaction volumes or value due to weak market conditions, lower investor participation or fewer new listings could affect revenue and growth.
- Highly Regulated Industry: The company operates under strict regulations and is overseen by authorities such as SEBI and RBI. Changes in regulations or issues with approvals and compliance could impact its operations and financial performance.
- Regulatory Actions & Proceedings: The company has faced various regulatory actions, penalties and proceedings from SEBI. Unfavourable outcomes from existing or future cases could affect its reputation, business and financial performance.
Registrar & documents
Lead manager
360 ONE WAM Limited, Anand Rathi Securities Limited, Avendus Capital Private Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, Dam Capital Advisors Limited, Equirus Capital Private Limited, Hdfc Bank Limited, Hsbc Securities & Capital Markets Private Limited, ICICI Securities Limited, Idbi Capital Market Services Limited, IIFL Capital Services Limited, J.P. Morgan India Private Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited, Pantomath Capital Advisors Private Limited, SBI Capital Markets Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, 400051
+91 22 2659 8100
[email protected]Company website ↗Understanding NSE IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.