Business Desk – NSE IPO Price Band: National Stock Exchange i.e. NSE has fixed the price band of its IPO. The company has fixed the share price at Rs 1,700 to Rs 1,785. NSE is preparing to raise around Rs 22,562 crore from this IPO. According to the upper price band, the valuation of the company will be around Rs 4.42 lakh crore.
NSE's IPO will open on September 17 and investors will be able to bid till September 21. The allotment of shares for big investors i.e. anchor investors will take place on September 16.
Possibility of listing in stock market on September 24
The allotment of shares in the IPO will take place on September 22. Investors who do not receive shares will be refunded on September 23. On the same day, the shares will be credited to the demat account of the investors who are allotted shares. NSE shares are likely to be listed on BSE on September 24.
How much money can retail investors invest?
Retail investors will be able to apply for a minimum of 1 lot. There will be 8 shares in one lot. According to the upper price band of Rs 1,785, one lot will have to pay Rs 14,280. Retail investors can bid for a maximum of 14 lots i.e. 112 shares. For this they will have to invest a maximum of Rs 1,99,920.
How much share for whom in IPO?
About 50% of the share in the IPO has been kept for Qualified Institutional Buyers i.e. QIB. About 35% share is reserved for retail investors and about 15% share is reserved for non-institutional investors i.e. NII.
Complete IPO OFS, new shares will not be issued
This IPO of NSE is completely Offer for Sale i.e. OFS. That means the company will not issue any new shares. Existing shareholders will sell their shares and the money received from this will go to those shareholders only.
According to RHP, the number of shares to be sold in the IPO has been reduced from 14.89 crore to 12.64 crore. This accounts for about 5.1% of the total equity of NSE. Earlier there was a plan to sell about 6% stake.
SBI is the biggest seller of shares
State Bank of India i.e. SBI is selling the maximum shares in this IPO. SBI will sell 1.59 crore shares. Canada Pension Plan Investment Board will sell 1.18 crore shares, Aranda Investments 1.12 crore, MS Strategic 1.10 crore and New India Assurance Company 1.05 crore shares.
According to the RHP filed on September 10, SBI, MS Strategic, Bank of Baroda, Stock Holding Corporation of India and General Insurance Corporation of India have reduced the number of shares they have put up for sale. There is no change in share sales of Canada Pension Plan Investment Board, Aranda Investments, New India Assurance and United India Insurance.
National Insurance Company will no longer participate in OFS. SBI Capital Markets has been added to the list of selling shareholders. She will sell 87.8 lakh shares.
Approval received from SEBI on 4 September
SEBI had approved the DRHP of NSE on 4 September 2026. The size of the IPO has been reduced by about 15% compared to the DRHP filed in June 2026.
NSE will not get any part of the proceeds from this IPO. Due to OFS, the remaining amount after tax and other expenses will be given to the existing investors selling shares. The objective of IPO is NSE listing and sale of stake to existing shareholders.
20 merchant bankers will handle IPO
NSE has appointed a total of 20 merchant bankers for the IPO. These include Kotak Mahindra Capital, JM Financial, Morgan Stanley, Citigroup, SBI Capital and HDFC Bank. MUFG Intime India is the registrar of this IPO.
NSE's profit declined by 15.5% in FY26
NSE's net profit declined by 15.5% to Rs 10,302.1 crore in FY 2026. A year ago it was Rs 12,187.7 crore. During this period, the total income of the company also declined by 3.1% to Rs 16,601.3 crore.
However, the company's performance was better in the first quarter ending June 2026. During this period, NSE's profit increased by 6.7% to Rs 3,120.1 crore and revenue increased by 13.1% to Rs 4,560.4 crore.
What is OFS?
The company does not issue new shares in Offer for Sale i.e. OFS. In this, old investors, promoters or big shareholders sell some shares of their stake to common investors. The money received from this sale does not go to the company's account, but goes to the investors who sell the shares.
