NSE IPO opens September 17, price band set at Rs 1,700-1,785

National Stock Exchange of India Limited (NSE) has fixed the share price for its first public issue. The company has set a price band of Rs 1,700 to Rs 1,785 for each equity share with a face value of Rs 1. Subscription for the IPO will open on September 17, 2026 and close on September 21, 2026.

Investors can bid for a minimum of 8 equity shares, and in multiples of 8 shares thereafter. The company currently has a total of 2,475,000,000 equity shares of Rs 1 face value outstanding.

The IPO is entirely an offer for sale by corporate shareholders. State Bank of India, Canada Pension Plan Investment Board, Aranda Investments (Mauritius) Pte Limited, MS Strategic (Mauritius) Limited, The New India Assurance Company Limited, SBI Capital Markets Limited, Bank of Baroda, Stock Holding Corporation of India Limited, General Insurance Corporation of India and United India Insurance Company Limited are together selling around 126,436,650 equity shares. The sale is being carried out through a book building process under SEBI rules, under which not more than 50 percent has been reserved for Qualified Institutional Buyers (QIBs), not less than 15 percent for Non-Institutional Investors (NIIs) and not less than 35 percent for Retail Individual Investors (RIIs).

NSE began operations in 1994 and is India's first exchange to introduce electronic, or screen based, trading. It offers everything from exchange listing to trading services, clearing and settlement services, indices and market data feeds under one roof. According to Futures Industry Association (FIA) data, NSE was the world's largest derivatives exchange by trading volume in calendar year 2025. According to the World Federation of Exchanges (WFE), NSE ranked third globally in the equity segment by electronic order book in 2025.

According to a Redseer report, NSE remained India's largest stock exchange by both cash market turnover and equity derivative turnover from financial year 2011 through financial year 2026 and the three months ended June 30, 2026. NSE's registered investor count stood at 30.87 million as of March 31, 2020, and grew at an annual rate of 26.23 percent to reach 132.37 million by June 30, 2026.

NSE's platform helped raise capital of Rs 20.33 trillion in financial year 2026 and Rs 6.19 trillion in the quarter ended June 30, 2026. As of June 30, 2026, the company had 261.36 million registered investor accounts, 1,328 trading members, 132.37 million unique registered investors and 3,005 listed companies with a combined market capitalisation of Rs 474.08 trillion.

The company's revenue from operations in the June 2026 quarter stood at Rs 4,560 crore, compared with Rs 4,032 crore in the same quarter last year. Net profit for the June 2026 quarter was Rs 3,121 crore, up from Rs 2,811 crore in the same quarter last year.

The book running lead managers for the IPO include Kotak Mahindra Capital Company, JM Financial, Morgan Stanley India, Citi Global Markets India, HSBC Securities and Capital Markets India, JP Morgan India, SBI Capital Markets, Anand Rathi Advisors, Avendus Capital, Axis Capital, DAM Capital Advisors, Ambit Capital, HDFC Bank, ICICI Securities, IDBI Capital Markets and Securities, IIFL Capital Services, Motilal Oswal Investment Advisors, Nuvama Wealth Management, Pantomath Capital Advisors and 360 One WAM Limited. MUFG Intime India Private Limited is the registrar for the issue. The equity shares are proposed to be listed on the BSE.