The National Stock Exchange of India (NSE) will launch its IPO for public bidding on September 17. The country’s largest stock exchange has fixed the price range at ₹1,700 to ₹1,785 a share. The subscription window will remain open until September 21.
NSE’s IPO is worth ₹22,561.5 crore, while the company’s total valuation is estimated at ₹4.42 lakh crore at the upper end of the price band.
The IPO will be entirely an offer for sale of up to 12.64 crore equity shares held by 10 existing investors. The sellers include Aranda Investments (Mauritius), Canada Pension Plan Investment Board, General Insurance Corporation of India, MS Strategic (Mauritius), Bank of Baroda and State Bank of India. The offering does not include any fresh issue of shares.
The IPO size has been cut by 15% from the 14.89 crore equity shares proposed in the DRHP filed in June 2026. SEBI approved the IPO proposal on September 4, 2026.
Among the shareholders participating in the OFS, SBI will sell the highest number of shares, with up to 1.59 crore shares on offer. New India Assurance Company will offer 1.05 crore shares, while MS Strategic (Mauritius), Aranda Investments (Mauritius) and Canada Pension Plan Investment Board will sell 1.1 crore, 1.12 crore and 1.18 crore shares, respectively.
Eligible NSE employees will have access to shares reserved for them worth up to ₹70 crore. They can purchase these shares at a ₹170 discount to the final issue price. Meanwhile, SBI Capital Markets has joined the group of OFS sellers and plans to sell 87.8 lakh shares, while National Insurance Company has withdrawn from the share sale.
The lot size has been fixed at eight equity shares, with subsequent bids allowed only in multiples of eight. For retail applicants, the investment range will be ₹14,280 to ₹1,99,920. Institutional investors will be able to participate in the anchor bidding process on September 16.
The allotment of IPO shares is likely to be completed by September 22, followed by the listing of NSE shares on the BSE on September 24.
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