The much-awaited NSE IPO is all set to go public this week, putting the National Stock Exchange firmly in the spotlight ahead of its market debut. After years of regulatory delays and several changes since the bourse filed its Draft Red Herring Prospectus (DRHP) in June, the IPO is scheduled to open for subscription on September 17.
Initially, 14.9 crore shares were proposed in the DRHP, but the bourse has cut the offer-for-sale (OFS) to 12.64 crore equity shares, a roughly 15 per cent reduction. This has also brought a cut in the overall issue size.
NSE IPO price band and issue size
The price band is fixed at ₹1700-₹1785 for a minimum lot size of 8 shares. Investors who are interested in applying for the initial public offering of National Stock Exchange are required to invest a minimum of ₹13,600. A regular investor can apply up to ₹2,00,000 and an employee at NSE can apply up to ₹5,00,000, with a price band between ₹1530-₹1615. A high-net-worth individual can apply between ₹2,00,000 and ₹5,00,000.
The IPO is scheduled to open on September 17 and the application window closes on September 21. However, the option to pre-apply for the IPO is open. Once an investor pre-applies for the IPO, the order will be placed as soon as the IPO bidding starts.
The allotment of shares is expected to happen on September 22, with the tentative listing of shares expected to take place on September 24.
At the newly announced price band, the IPO is estimated to raise ₹21,494-22,569 crore. This is significantly lower than the earlier estimate of around ₹30,000 crore. As per PTI, at the upper end of the price band, the issue is estimated at ₹22,569 crore, making it the country's second-largest public issue after Hyundai Motor India's ₹27,870-crore IPO in 2024. It will, however, be larger than the ₹21,000-crore IPO of Life Insurance Corporation of India (LIC) launched in 2022.
The IPO is entirely an OFS, meaning NSE is not issuing any new shares and will not receive any proceeds from the public issue. The money raised will instead accrue to the existing shareholders selling their shares.
NSE IPO latest GMP
The latest grey market premium (GMP) of NSE IPO is being reported at around ₹218-₹222 per share, hinting at a potential listing premium of approximately 12 per cent. It is important to note that GMP is speculative and can change rapidly before listing.
