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National Stock Exchange of India IPO process

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2026-09-11 10:18 UTC → 2026-09-11 11:09 UTC · added ~~removed~~

The National Stock Exchange of India (NSE) is preparing for an initial public offering (IPO) structured as an offer for sale (OFS), where existing shareholders sell stakes rather than the company issuing new equity. Initially, the exchange sought a valuation of up to US$55 billion with a price band of 2,000 to 2,100 rupees per share. Following a shift in strategy, the expected price band was lowered to between 1,700 and 1,785 rupees, reducing the projected valuation to approximately 46.6 billion USD. This adjustment reportedly led some shareholders to decline selling, potentially reducing the total stake offered. Following approval from the market regulator, SEBI, the NSE has ~~confirmed~~ finalized the ~~final~~ IPO details. The offering is ~~valued at~~ expected to raise between approximately ~~₹22,568.94~~ ₹21,494 crore and ₹22,567 crore. The issue will consist of more than 1.26 billion shares being sold by existing shareholders. Notable institutional investors, including State Bank of India (SBI) and Morgan Stanley, have reportedly reduced the number of shares they intend to sell. The subscription period for retail investors is scheduled to run from September 17 to September 21, with anchor investor bidding beginning on September 16. For retail investors, the minimum lot size is 8 shares, requiring a minimum investment of ₹14,280 based on the upper price band. Eligible NSE employees will receive a special discount of ₹170 per share. Kotak Mahindra Capital has been appointed as the lead manager. Share allotment is expected on September 22, with a potential market listing on the Bombay Stock Exchange (BSE) on September 24.

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