Story perspectives

NSE IPO raises Rs 22,562 crore, shares jump 2.9%

By Drooid · Sep 24, 2026, 9:58 AM UTC · How we work

Summary

NSE IPO Debut

India’s National Stock Exchange listed on the BSE on September 24, 2026.
The IPO raised Rs 22,562 crore by offering 12.64 crore shares.
Shares were priced at Rs 1,785 within a Rs 1,700-Rs 1,785 band.
Overall subscription was 5.71 times, with QIBs at 12.68 times and retail at 1.39 times.
Shares opened at Rs 1,800 and rose to Rs 1,845, valuing NSE at about Rs 4.45 lakh crore.

Summary

Shareholder Lock-in Ends

Lock-in periods for pre-IPO shareholders end around late March 2027, potentially flooding the market with new shares.
SEBI regulations prohibit NSE from listing its own shares on its platform, forcing trading on rival BSE.
Analysts warn tighter derivatives rules and higher transaction taxes could significantly compress NSE’s fee-based earnings in FY27.

History

Historical Context

Founded in 1994 as India’s first fully electronic exchange, the NSE quickly surpassed the BSE in daily turnover and, by 1995, held about 30% of equity trade. Building on that model, SEBI approved its September 2026 IPO, which raised INR22,569 crore and was oversubscribed 5.71 times, echoing the market-share shift that followed the 1994 launch.

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NSE IPO Debut

India’s National Stock Exchange listed on the BSE on September 24, 2026.
The IPO raised Rs 22,562 crore by offering 12.64 crore shares.
Shares were priced at Rs 1,785 within a Rs 1,700-Rs 1,785 band.
Overall subscription was 5.71 times, with QIBs at 12.68 times and retail at 1.39 times.
Shares opened at Rs 1,800 and rose to Rs 1,845, valuing NSE at about Rs 4.45 lakh crore.

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