NSE IPO listing today:Grey market predictions peg each stock at ₹1,857; investors could receive up to 4% returns

The National Stock Exchange, or NSE, IPO will be listed on the stock market, or BSE, today, 24 September. Before the listing, NSE shares are trading in the grey market at a premium of ₹72, or 4.03%, over the IPO price band. Based on the grey market premium, or GMP, the shares could be listed at ₹1,857. IPO receives overall 5.71 times subscription The company set the issue’s price band at ₹1,700 to ₹1,785 per share. It is raising around ₹22,562 crore through the issue. The IPO received total subscription of 5.71 times over three days. Against a total of 8.86 crore shares, investors placed bids for 50.28 crore shares. The highest demand came from large foreign and domestic funds, or QIBs, whose quota was subscribed 12.68 times. The portion reserved for wealthy investors, or NIIs, was subscribed 6.55 times, while the quota for ordinary retail investors was subscribed 1.39 times. The company’s total valuation at the upper price band has been estimated at ₹4.42 lakh crore. NSE’s initial public offering was open from 17 September to 21 September. Share allotment took place on 22 September, followed by the crediting of shares to demat accounts on 23 September.
How much could retail investors invest at the minimum and maximum? For this IPO, retail investors could apply for a minimum of one lot, or eight shares. If you applied for one lot at the IPO’s upper price band of ₹1,785, your investment would have been ₹14,280. Retail investors could bid for a maximum of 14 lots, or 112 shares, in the IPO. This required investors to invest a maximum of ₹1,99,920. Investors may now earn returns of up to 4% on their investment, according to the GMP. 35.35% of the company’s issue was reserved for retail investors Nearly 50% of the company’s issue was reserved for qualified institutional buyers (QIBs). In addition, around 35% was reserved for retail investors and approximately 15% for non-institutional investors (NIIs). IPO entirely an OFS; 12.64 crore shares sold According to the company’s red herring prospectus (RHP), the number of shares to be sold through the IPO had been reduced from 14.89 crore to 12.64 crore. This was entirely an offer for sale (OFS), meaning no new shares were issued. The sale accounts for approximately 5.1% of the company’s total equity capital, compared with the earlier proposal to sell 6%. SEBI approved the company’s DRHP on 4 September The net proceeds, or the amount left after taxes and expenses, will go entirely to the existing shareholders selling their shares. The primary objective of this IPO is to facilitate the listing and the OFS. The issue size has been reduced by around 15% from the draft red herring prospectus (DRHP) filed by the company in June 2026. Market regulator SEBI approved the DRHP on 4 September. SBI was the largest selling shareholder in the issue MUFG Intime India is the registrar for the issue A total of 20 merchant bankers, including Kotak Mahindra Capital, JM Financial, Morgan Stanley, Citigroup, SBI Capital and HDFC Bank, were appointed to manage this mega IPO. MUFG Intime India is the registrar for the issue. Financial performance: NSE’s profit fell 15.5% in FY26 What is an Offer for Sale (OFS)? In an IPO, an Offer for Sale means that the company is not raising fresh funds from the market by issuing new shares. Instead, the company’s existing investors, such as promoters or large banks, sell a portion of their stake to the public. All the money raised from this goes directly to the shareholders selling their shares, rather than to the company’s account.