NSE IPO listing: Share price prediction - Gains or discounted debut at BSE? What GMP signals

NSE's mega IPO, the largest public issue of 2026 so far, is set to list on BSE on September 24 after being subscribed 5.71 times, with QIB quota subscribed 12.68 times and retail portion 1.39 times. The grey market premium has fallen sharply to about ₹45.5 from ₹285 after SEBI cleared the issue, implying an estimated listing price of around ₹1,828, which is only about 2.41 percent above the IPO price of ₹1,785 and points to a muted debut. The issue is entirely an offer for sale with no fresh issue component, and Kotak Mahindra Capital is the book-running lead manager.