What is the price band for National Stock Exchange of India Limited IPO?

The price band for National Stock Exchange of India Limited IPO is ₹1,700 to ₹1,785 per share.

What is the minimum investment for National Stock Exchange of India Limited IPO?

The minimum retail investment for National Stock Exchange of India Limited IPO is ₹14,280, which buys one lot of 8 shares at the upper price band of ₹1,785 per share.

What is the lot size for National Stock Exchange of India Limited IPO?

The lot size for National Stock Exchange of India Limited IPO is 8 shares. Retail investors must apply for at least one lot.

When does the National Stock Exchange of India Limited IPO open and close for subscription?

The National Stock Exchange of India Limited IPO subscription opens on 17 September 2026 and closes on 21 September 2026. Bidding window is 10:00 AM to 5:00 PM IST on each subscription day. Applications can be submitted through ASBA or UPI via registered brokers.

How many times was the National Stock Exchange of India Limited IPO subscribed?

The National Stock Exchange of India Limited IPO was subscribed 4.26× overall. This means total bids received were 4.26 times the number of shares available.

On which exchange is National Stock Exchange of India Limited IPO listed?

National Stock Exchange of India Limited is listed on BSE/NSE. After listing, shares can be bought and sold on the exchange through a regular demat and trading account.

Who is the book running lead manager (BRLM) for National Stock Exchange of India Limited IPO?

The book running lead manager(s) for National Stock Exchange of India Limited IPO is: "Kotak Mahindra Capital Company Limited. The BRLM manages the IPO process, investor outreach, and anchor book building.

open · IPO · BSE/NSE · closes today

National Stock Exchange of India Limited

Raising ₹15822.76 Cr at ₹1,700 – ₹1,785 per share.

Subscription window 93%

4.26×

total subscription so far

Price band

₹1,700 – ₹1,785

Shares per lot

Retail minimum

₹14,280

Issue size

₹15822.76 Cr

Face value

₹1

Company research

Tijori Finance

National Stock Exchange of India (NSE) is India’s leading exchange, providing a technology-driven platform for trading equities, derivatives, debt and other securities. NSE enables transparent, efficient and secure markets with nationwide reach.

Financials — ₹ crore

Period	Revenue	PAT
Mar 2024	14,780.01 Cr	8,305.66 Cr
Mar 2025	17,140.68 Cr	12,187.94 Cr
Mar 2026	16,601.31 Cr	10,302.06 Cr

Revenue mix

Transaction charges

79%

Data Connectivity charges

5.7%

Data Feed & Terminal services

3.3%

Clearing & Settlement Services

1.8%

Listing services

1.7%

Data Centre - Rack charges

1.3%

Licensing services

1.0%

Others

5.8%

Peer comparison

Company Mkt cap Revenue P/E P/B

NSE 5,85,381 16,601 Cr 57.51 16.61

BSE 1,32,154 5,124 Cr 46.95 16.78

Subscription by investor category

as of As on 18-Sep-2026 19:00:13 IST

Total demand

— shares bid

1.34×

QIB — Qualified Institutional Buyers

3.32×

8,37,44,520 shares bid · 2,52,07,867 offered

QIB · FII / FPI

2,48,98,568

QIB · Domestic Financial Institutions

3,26,55,560

QIB · Mutual Funds

2,05,56,200

QIB · Others

56,34,192

NII — Non-Institutional Investors

1.14×

2,16,06,368 shares bid · 1,89,00,483 offered

NII · Big (> ₹10 lakh)

1.32×

1,66,10,256 shares bid · 1,26,00,322 offered

NII · Small (≤ ₹10 lakh)

0.79×

49,96,112 shares bid · 63,00,161 offered

Retail Individual Investors

0.3×

1,31,22,288 shares bid · 4,41,01,125 offered

Employee

0.64×

2,79,544 shares bid · 4,33,436 offered

Bid book by price

cumulative NSE demand

₹1,785 5,33,19,528

₹1,784 5,33,36,464

₹1,783 5,33,38,104

₹1,782 5,33,42,656

₹1,781 5,33,44,952

₹1,780 5,33,64,192

₹1,779 5,33,64,400

₹1,778 5,33,64,664

₹1,777 5,33,65,096

₹1,776 5,33,65,160

₹1,775 5,33,70,232

₹1,774 5,33,70,520

₹1,773 5,33,72,136

₹1,772 5,33,72,200

₹1,771 5,33,72,464

₹1,770 5,33,75,064

₹1,769 5,33,75,144

₹1,768 5,33,75,808

₹1,767 5,33,75,920

₹1,766 5,33,75,952

₹1,765 5,33,78,232

₹1,764 5,33,78,328

₹1,763 5,33,78,616

₹1,762 5,33,78,696

₹1,761 5,33,78,712

₹1,760 5,33,83,336

₹1,759 5,33,83,592

₹1,758 5,33,84,008

₹1,757 5,33,84,072

₹1,756 5,33,84,336

₹1,755 5,33,87,112

₹1,754 5,33,87,168

₹1,753 5,33,87,208

₹1,752 5,33,87,352

₹1,751 5,33,90,944

₹1,750 5,34,27,960

₹1,749 5,34,28,216

₹1,748 5,34,28,240

₹1,747 5,34,28,296

₹1,746 5,34,28,360

₹1,745 5,34,30,440

₹1,744 5,34,30,448

₹1,743 5,34,30,536

₹1,742 5,34,30,840

₹1,741 5,34,30,856

₹1,740 5,34,34,232

₹1,739 5,34,34,376

₹1,738 5,34,34,448

₹1,737 5,34,34,544

₹1,736 5,34,34,624

₹1,735 5,34,35,264

₹1,734 5,34,35,872

₹1,733 5,34,35,912

₹1,732 5,34,35,936

₹1,731 5,34,36,088

₹1,730 5,34,38,312

₹1,729 5,34,38,336

₹1,728 5,34,38,464

₹1,727 5,34,38,720

₹1,726 5,34,38,816

₹1,725 5,34,43,440

₹1,724 5,34,43,528

₹1,723 5,34,43,872

₹1,722 5,34,43,896

₹1,721 5,34,44,448

₹1,720 5,34,49,768

₹1,719 5,34,49,968

₹1,718 5,34,50,344

₹1,717 5,34,50,656

₹1,716 5,34,50,720

₹1,715 5,34,51,656

₹1,714 5,34,51,784

₹1,713 5,34,51,808

₹1,712 5,34,51,848

₹1,711 5,34,52,640

₹1,710 5,34,58,208

₹1,709 5,34,58,432

₹1,708 5,34,58,656

₹1,707 5,34,59,008

₹1,706 5,34,59,096

₹1,705 5,34,61,704

₹1,704 5,34,61,960

₹1,703 5,34,62,072

₹1,702 5,34,62,896

₹1,701 5,34,67,112

₹1,700 5,35,44,600

Updated 18-Sep-2026 19:00:13. Cumulative (NSE) bid quantity at each price point includes the quantity (NSE) bidded at that relevant price point and all valid bids above that price point.

Parties to the issue

Book-running lead manager

"Kotak Mahindra Capital Company Limited

Registrar

Mufg Intime India Private Limited (formerly Link Intime India Private Limited)

Sponsor bank

"ICICI Bank Limited

Exchange filings

Fields captured from NSE and BSE

Issue information

Exchange note: *As per SEBI circular no SEBI/HO/CFD/DIL2/CIR/P/2019/76 dated 28 June 28 2019 all are requested to comply with the provisions of the aforementioned circular which states as below: Intermediaries shall retain physical application forms submitted by retail individual investors with UPI as a payment mechanism, for a period of six months and thereafter forward the same to the issuer/ Registrar to Issue. However in case of Electronic forms printouts of such applications need not be retained or sent to the issuer. Intermediaries shall at all times maintain the electronic records relating to such forms for a minimum period of three years.
Symbol: NSE
Issue Period: 17-Sep-2026 to 21-Sep-2026
Cut-off time for UPI Mandate Confirmation: 21-Sep-2026 (upto 7:00 PM) The new cut-off time for UPI mandate acceptance is 07:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability to participate in IPOs by successfully accepting the mandate.
Issue Size: Initial Public Offer comprising of Offer for Sale of upto 126,436,650 Equity Shares (including Employee Reservation Portion aggregating up to Rs. 700 million and Anchor Portion of 37,793,739 Equity Shares)
Issue Type: Book Building
Price Range: Rs. 1700 to Rs. 1785 per Equity Share
Discount: Rs. 170 per equity share to Eligible Employees
Face Value: Re. 1 per Equity Share
Tick Size: Re. 1
Bid Lot: 8 Equity Shares and in multiples thereof
Minimum Order Quantity: 8 Equity Shares
Maximum Subscription Amount for Retail Investor: Rs. 2,00,000
Maximum Subscription Amount for Eligible Employee: Rs. 5,00,000
Maximum Bid Quantity for QIB Investors: 88,209,472 Equity Shares in the multiples of 8 Equity Shares
Maximum Bid Quantity for NIB Investors: 63,001,608 Equity Shares in the multiples of 8 Equity Shares
IPO Market Timings: September 17, 2026 9:00 am - 7:00 pm
Exchange note: September 18, 2026 9:00 am - 7:00 pm
Exchange note: September 21, 2026 QIB/NIB - 9.00 am to 4.00 pm, RETAIL/EMP - 9.00 am to 7.00 pm
Book Running Lead Managers: Kotak Mahindra Capital Company Limited
Exchange note: JM Financial Limited
Exchange note: Morgan Stanley India Company Private Limited
Exchange note: Citigroup Global Markets India Private Limited
Exchange note: HSBC Securities and Capital Markets (India) Private Limited
Exchange note: J.P. Morgan India Private Limited
Exchange note: Anand Rathi Advisors Limited
Exchange note: Avendus Capital Private Limited
Exchange note: Axis Capital Limited
Exchange note: DAM Capital Advisors Limited
Exchange note: Equirus Capital Limited (formerly known as Equirus Capital Private Limited)
Exchange note: HDFC Bank Limited
Exchange note: ICICI Securities Limited
Exchange note: IDBI Capital Markets and Securities Limited
Exchange note: IIFL Capital Services Limited (formerly known as IIFL Securities Limited)
Exchange note: Motilal Oswal Investment Advisors Limited
Exchange note: Nuvama Wealth Management Limited
Exchange note: Pantomath Capital Advisors Private Limited
Exchange note: 360 ONE WAM Limited
Exchange note: SBI Capital Markets Limited
Sponsor Bank: ICICI Bank Limited, Kotak Mahindra Bank Limited, State Bank of India and Axis Bank Limited
Categories: FI, IC, MF, FII, OTH, CO, IND, NOH and EMP
Sub-Categories applicable for UPI: IND and EMP (upto 5 Lakhs)
Name of the Registrar: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)
Address of the Registrar: C-101, Embassy 247, L.B.S. Marg Vikhroli (West), Mumbai 400 083 Maharashtra, India
Contact person name number and Email id: Shanti Gopalkrishnan, +91 810 811 4949 , nse.ipo@in.mpms.mufg.com
e-form link: https://bidcollection.nseindia.com/asba
Branches of Self Certified Syndicate Banks (SCSBs) where syndicate / sub syndicate member to submit ASBA form: Branches of Self Certified Syndicate Banks (SCSBs) where syndicate / sub syndicate member to submit ASBA form
Ratios / Basis of Issue Price: https://nsearchives.nseindia.com/content/ipo/RATIOS_NSE.zip
Red Herring Prospectus: https://nsearchives.nseindia.com/content/ipo/RHP_NSE.zip
Bidding Centers: https://nsearchives.nseindia.com/content/ipo/BIDDING_CENTERS_NSE.zip
Sample Application Forms: https://nsearchives.nseindia.com/content/ipo/FORMS_NSE.zip
Security Parameters (Pre Anchor): https://nsearchives.nseindia.com/content/ipo/PREANCHOR_PARAMETERS_NSE.zip
Security Parameters (Post Anchor): https://nsearchives.nseindia.com/content/ipo/POSTANCHOR_PARAMETERS_NSE.zip
Anchor Allocation Report: https://nsearchives.nseindia.com/content/ipo/ANCHOR_NSE.zip
Processing of ASBA Applications: Processing of ASBA Applications
Remark: The dedicated window provided for bid modification (modification of selected fields viz. DP ID/Client ID or Pan ID, Bank code and Location code) on T+1 day (T being last day of bidding) shall not be available now. The bid modification of selected fields shall be allowed during bidding period of IPO only.
List of mobile applications accepting UPI as Payment Option: List of mobile applications accepting UPI as Payment Option
Video link for UPI based ASBA process: Video link for UPI based ASBA process
Video link for BHIM UPI Registration: Video link for BHIM UPI Registration

Documents

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