NSE IPO opens September 17, GMP hits 11%
What's the story
The National Stock Exchange of India (NSE) will launch its initial public offering (IPO) on September 17. The ₹22,561.57 crore IPO will be open for subscription till September 21. The entire issue is an offer for sale (OFS) of 12.64 crore shares by existing shareholders. The NSE IPO price band has been fixed at ₹1,700-₹1,785 per share with a minimum lot size of eight shares.
Market sentiment
NSE IPO GMP
The NSE IPO is currently commanding an 11% premium in the gray market, indicating growing investor interest. At this rate, the estimated listing price for the shares would be ₹1,987 apiece.
However, it's important to note that GMP trends are not guaranteed and should not be relied upon as a definitive indicator of actual listing prices.
Financials
NSE's financial performance
In the June quarter, NSE reported a revenue of ₹4,560 crore and EBITDA of ₹3,594 crore. Transaction charges revenue was ₹3,623 crore, up from ₹3,154 crore in the same quarter last year.
Despite this strong performance for Q1 FY26, the exchange's full-year financials showed some pressure with total income falling 2% YoY to ₹18,713 crore in FY26 from ₹19,177 crore in FY25.
Market dominance
Key operational metrics of the exchange as of June-end
NSE dominates the cash, equity derivatives, and currency derivatives segments in India.
As of June 30, 2026, it had over 261.36 million registered investor accounts and 129 million unique investors.
The exchange also had 1,328 trading members and 3,005 listed companies with a total listed market capitalization of around ₹474.08 trillion.