NSE IPO Exclusive: Is six months lock-in a challenge? MD-CEO Ashishkumar Chauhan answers

NSE IPO news: The initial public offering (IPO) of the National Stock Exchange (NSE) is set to hit the Indian primary market on 17 September 2026. The Indian exchange has declared the NSE IPO price band at ₹1700 to ₹1785 per equity share. Taking a cue from the grey market, the public issue may list at a premium of 12%, as the NSE IPO GMP today is 210.

Market experts believe the NSE share may have a limited movement after the NSE IPO listing as there is no extra stock being made available by the NSE while floating its public issue. So, only the shares offered in the OFS will be available for trade. So, the real test for the NSE shares would come when the six-month lock-in ends. Market observers believe that sharp selling by pre-IPO shareholders is due to their seeking to maximise their returns.

However, NSE CEO & MD, Ashishkumar Chauhan, is unmoved by this challenge. The NSE CEO & MD said that existing NSE shareholders had an opportunity to sell or partially offload their shareholding via the IPO route, but they didn't because they believed otherwise.

Why is a six-month lock-in a non-issue for NSE?

In an interaction with LiveMint, Ashishkumar Chauhan of NSE said, “Existing shareholders of the NSE would sell their shares for two major reasons: When they feel the requirement for urgent money, and when they find NSE shares at a price, which they have kept in mind.”

The NSE CEO & MD said that existing shareholders were unwilling to offload their holdings because they believed the NSE IPO price was much lower than their expectations. So, such pre-IPO shareholders are not going to offload their shareholding in the NSE.

NSE shareholders not in a hurry

The NSE CEO & MD further added that the majority of pre-IPO investors, especially institutions, are in sound financial shape. Hence, the likelihood of a liquidity crisis at such institutions is limited.

“Chances of NSE shares reaching the expected levels of all big NSE shareholders after the six-month lock-in look bleak. So, we are expecting some sell-off, but not of that kind, which is weighing on the market observers,” Ashishkumar Chauhan of NSE said.

Why is the NSE IPO not listed on the NSE?

On why the NSE IPO is listing on the BSE only, Ashish Kumar Chauhan of NSE said, “This is due to the IPO guideline rules, which require a regulation for the exchange. As the NSE is listed on the BSE, it would enable more transparent regulation of the NSE stock at a neutral exchange like the BSE.”

He said that, from a self-regulation perspective, an NSE IPO listing on the BSE looks better, and the NSE did the same.