NSE IPO Price Likely at ₹1,700-1,785 Per Share; Stake Sale May Be Cut to 5.5%
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Last Updated: 11th September 2026 - 03:34 pm
The National Stock Exchange of India Ltd is likely to launch its eagerly awaited initial public offer for shares between ₹1,700 and ₹1,785 each, lower than the ₹2,000 to ₹2,100 band that it had planned for marketing to investors, according to people aware of the matter.
Invest in Indian Markets and Unlock Future Potential With 5paisa!The size of the share issue might also be reduced. The proportion of shares to be sold will be reduced to around 5.5% from the initial 6% due to some shareholders pulling out of the issue due to the lower prices. The individuals did not want to be identified for confidentiality reasons.
Valuation and timing
The proposed range would value the exchange at up to ₹4.42 trillion, or $46.6 billion. That compares with the valuation of as much as ₹5.26 trillion the exchange had earlier been targeting.
Since NSE operates the largest derivatives exchange globally in terms of volume, the price band is set to be released by the company and the stock will commence subscription during the week starting September 14. The discussions are ongoing and there is the possibility of changes to the price band and other details.
At the upper end of the range, a 5.5 percent share would generate around ₹243 billion. This would not be enough to beat Hyundai Motor India Ltd’s ₹279 billion that came from its IPO in 2024, the biggest in the country.
An all-secondary offering
NSE IPO filed its draft prospectus in June for an offering made up entirely of secondary shares, meaning existing holders are selling and the exchange itself will not raise fresh capital. India's market regulator cleared the prospectus on September 4.
As per the filing, the list of sellers includes Morgan Stanley, Temasek Holdings Pte, State Bank of India, Stock Holding Corporation of India Ltd., General Insurance Corp. of India, New India Assurance Co. Ltd., National Insurance Co. Ltd., and Oriental Insurance Co.
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