National Stock Exchange of India IPO
National Stock Exchange of India IPO is a mainboard IPO raising ₹22,561 Cr at ₹1,700 – ₹1,785 a share. The smallest application you can make is 8 shares, costing ₹14,280 at the top of the band. Bidding opens on 17 Sept 2026.
Bidding has not opened yet, so there is nothing to subscribe to.
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
100% of this issue is existing shareholders cashing out. Only ₹0 Cr reaches the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs1785 + fresh by subtraction from exchange total Rs22561 Cr. Checked: exchange issue size Rs22561 Cr vs derived Rs22568.9 Cr (0.0% apart).
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 21% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| BSE Limited | 54.28× | 45% | ₹60.61 |
| This issue | 42.9× | 33.21% | ₹41.62 |
derived: cut-off price Rs1785 / stated EPS Rs41.62 (FY2026 (year ended March 31, 2026), diluted, restated consolidated; basic equals diluted because the Group has no outstanding dilutive potential equity shares (Ind AS 33)). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.