NSE IPO Day 2: Subscription Status, Timeline & Key Issue Details

The NSE IPO entered its second day of public subscription today, September 18, 2026, marking one of the largest public issues in India’s capital markets. The ₹22,561.57 crore book-built issue is entirely an Offer for Sale (OFS), with existing shareholders diluting their stake through the public offering.

The IPO will remain open for bidding until September 21, 2026. The basis of allotment is expected to be finalised on September 22, 2026, and the shares are tentatively scheduled to be listed on the BSE on September 24, 2026.

NSE IPO - Issue Details

• Issue Type: Book Built Issue (OFS only)
• Total Issue Size: Up to ₹22,561.57 crore
• Fresh Issue: Not Applicable
• Offer for Sale (OFS): Up to ₹22,561.57 crore
• Face Value: ₹1 per equity share
• Price Band: ₹1,700 to ₹1,785 per share
• Lot Size: 8 shares
• Minimum Investment Amount (Retail Investor): ₹14,280 (8 shares at the upper price)
• Listing: BSE
• Book Running Lead Managers:  Kotak Mahindra Capital Company Limited,  JM Financial Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited, SBI Capital Markets Limited, Anand Rathi Advisors Limited, Avendus Capital Private Limited, Axis Capital Limited, DAM Capital Advisors Limited, Equirus Capital Limited (formerly known as Equirus Capital Private Limited), HDFC Bank Limited, ICICI Securities Limited, IDBI Capital Markets & Securities Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), Motilal Oswal Investment Advisors Limited, Nuvama Wealth Management Limited, Pantomath Capital Advisors Private Limited, W 360 ONE WAM Limited 
• Registrar to the Issue: MUFG Intime India Private Limited

NSE IPO Timeline 

The expected IPO schedule is as follows:

Note: The allotment and listing dates are tentative and may be revised.

Explore other Upcoming IPOs on BSE and NSE.

NSE IPO Day 2 Subscription Status

[September 18, 2026, 11:30 A.M.]

NSE IPO structure: Offer for Sale

The NSE IPO is entirely an Offer for Sale (OFS), comprising up to 12.64 crore equity shares offered by existing shareholders. The issue does not include any fresh equity issuance, which means NSE itself will not receive any proceeds from the IPO. The entire amount raised will go to the selling shareholders.

Among the major participants in the OFS, the State Bank of India Group is expected to sell around 1.60 crore equity shares. Other selling shareholders include MS Strategic (Mauritius), Canada Pension Plan Investment Board (CPPIB), Aranda Investments (Mauritius), Bank of Baroda, GIC Re, and several public sector insurance companies.

About NSE Limited

The National Stock Exchange of India (NSE) is India's largest stock exchange by market activity and has maintained its leadership in the cash market, equity derivatives, and exchange-traded currency derivatives by turnover from FY2001 to FY2026. In FY2026, it also ranked as the world's largest multi-asset exchange by the number of cash equity trades and equity derivatives contracts traded.

NSE operates an integrated business model spanning trading, clearing, settlement, listing, market data, and licensing services across multiple asset classes. As of March 31, 2026, it had 129.09 million unique investors, 253.66 million investor accounts, 1,325 trading members, and 2,978 listed companies, with a total listed market capitalisation of ₹411.25 trillion.

Key Financial Highlights 

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