- Issue price
- ₹1,785per share
- Issue size
- ₹22,561.57 Cr12,64,36,650 shares
- Face value
- ₹1per equity share
- Lot size
- 8 sharesMin. ₹14,280 at the upper price
- Anchor biddingWed, 2026
- OpensThu, 2026
- ClosesMon, 2026
- AllotmentTue, 2026
- ListingThu, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- —
- Offer for sale
- 12,64,36,650 shares (₹22,561.57 Cr)
- Total issue
- 12,64,36,650 shares (₹22,561.57 Cr)
- Face value
- ₹1
- Listing at
- BSE
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail34.9%
- Anchor29.9%
- QIB ex-anchor19.9%
- Big NII10.0%
- Small NII5.0%
- Employees0.3%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 4,41,01,125 | 34.88% | 35% |
| Non-institutional investors (NII) | 1,89,00,483 | 14.95% | 15% |
| Small NII (₹2–10 lakh) | 63,00,161 | 4.98% | — |
| Big NII (above ₹10 lakh) | 1,26,00,322 | 9.97% | — |
| Qualified institutional buyers (QIB) | 6,30,01,606 | 49.83% | 50% |
| QIB, excluding anchor | 2,52,07,867 | 19.94% | — |
| Anchor investors | 3,77,93,739 | 29.89% | — |
| Employees | 4,33,436 | 0.34% | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹1,785 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Employees | 1 | 8 | ₹14,280 |
| Retail individual investors | 1 | 8 | ₹14,280 |
Source: ProspectusUpdated
Special quotas
- Employees
- ₹170 discount per share
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2025-26- EPS (basic)
- ₹41.62
- P/E (FY 2025-26 at offer price)
- 42.89×
- RoNW
- 33.21%
- NAV per share (As on June 30, 2026)
- ₹142.4
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Jun 20263 months | 31 Mar 2026FY 2025-26 | 30 Jun 20253 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 |
|---|---|---|---|---|---|
| Revenue from operations | 4,560.41 | 16,601.31 | 4,032.24 | 17,140.68 | 14,780.01 |
| Total income | 5,252.17 | 18,713.37 | 4,798.45 | 19,176.83 | 16,352.06 |
| EBITDA | 4,332.04 | 14,519.09 | 3,926.13 | 16,021.36 | 11,623.83 |
| Profit after tax | 3,120.08 | 10,302.06 | 2,923.85 | 12,187.69 | 8,305.74 |
| Net worth | 35,244.23 | 32,113.54 | 33,331.49 | 30,353.33 | 23,973.88 |
| Reserves and surplus | 34,996.73 | 31,866.04 | 33,083.99 | 30,105.83 | 23,924.91 |
| Total assets | 91,334.07 | 87,937.44 | 77,146.74 | 69,466.64 | 65,463.98 |
FY 2025-26 vs FY 2024-25: revenue −3.1%, profit after tax −15.5%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
The company operates a multi-asset stock exchange in India covering cash market, derivatives, currency, debt and commodity segments. It also runs clearing and settlement, index, data and technology services, and an international exchange at GIFT City. The company does not have an identifiable promoter, and this offer is entirely an offer for sale by existing shareholders.
- Incorporated
- 1992
- Industry
- Stock Exchange
- CIN
- U67120MH1992PLC069769
- Website
- nseindia.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue | Shares offered |
|---|---|---|---|
| State Bank of India | — | — | 1,59,69,410 |
| Canada Pension Plan Investment Board | — | — | 1,18,74,060 |
| Aranda Investments (Mauritius) Pte Ltd | — | — | 1,12,46,336 |
| MS Strategic (Mauritius) Limited | — | — | 1,10,00,000 |
| The New India Assurance Company Ltd. | — | — | 1,05,00,000 |
| SBI Capital Markets Limited (SS) | — | — | 87,80,590 |
| Bank of Baroda | — | — | 76,90,375 |
| Stock Holding Corporation of India Limited | — | — | 61,87,500 |
| General Insurance Corporation of India | — | — | 61,87,500 |
| United India Insurance Company Limited | — | — | 60,00,000 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Offer for sale by selling shareholders; the company does not receive any proceeds from the offer | 22,561.57 |
| Benefits of listing the equity shares on BSE, including visibility, brand image and public market liquidity | Set with price |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| National Stock Exchange of India LimitedIssuer | ₹41.62 | 42.89× | 33.21% | ₹129.75 |
| BSE Limited | ₹60.61 | 54.28× | 45.00% | ₹163.6 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Long-standing leading position in India's cash, equity futures and equity options trading segments.
- Vertically integrated platform spanning trading, clearing, settlement, listing, indices and data services.
- Large and growing base of registered investors and listed entities on the exchange.
- Scalable, high-throughput technology infrastructure with disaster recovery sites.
- Consistently high profitability and strong cash generation across the reviewed periods.
Risks
- Most revenue comes from transaction charges, so lower trading volumes would reduce income.
- Options and futures businesses contribute a large share of revenue and have seen declining volumes.
- Changes in SEBI and government policy, taxes and trading rules have already reduced volumes and could do so again.
- The company has paid late submission fees for delayed RBI filings on certain share allotments and may face further proceedings.
- There is no prior public market for the shares, and the offer price may not reflect the post-listing price.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹1,785) appear here after the shares list on BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the National Stock Exchange of India IPO open and close?
According to the Prospectus, the issue opens on Thursday, 17 September 2026 and closes on Monday, 21 September 2026.
What is the National Stock Exchange of India IPO price band?
The final issue price is ₹1,785 per share.
What is the lot size of the National Stock Exchange of India IPO?
One lot is 8 shares, which is ₹14,280 at ₹1,785 per share.
Where will National Stock Exchange of India shares list?
On BSE. The tentative listing date is Thursday, 24 September 2026.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How do I check the National Stock Exchange of India IPO allotment status?
The basis of allotment is expected to be finalised on Tuesday, 22 September 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (MUFG Intime India Private Limited) or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹22,561.57 Cr for offer for sale by selling shareholders; the company does not receive any proceeds from the offer, and the rest for the other stated purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.