NSE IPO: Price band set at ₹1,700-1,785 per share; check key dates, issue details

NSE IPO price band: The National Stock Exchange of India Limited (NSE) IPO price band has been fixed in the range of ₹1,700 to ₹1,785 per equity share of the face value of Re 1. The NSE IPO date of subscription is scheduled for Thursday, 17 September and will close on Monday, 21 September. The allocation to anchor investors for the NSE IPO is scheduled to take place on Wednesday, 16 September.

The NSE IPO lot size is 8 equity shares and in multiples of 8 equity shares thereafter.

NSE IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Tentatively, NSE IPO basis of allotment of shares will be finalised on Tuesday, 22 September and the company will initiate refunds on Wednesday, 23 September, while the shares will be credited to the demat account of allottees on the same day following refund. NSE share price is likely to be listed on BSE and NSE on Thursday, 24 September.

NSE IPO details

The company has reduced the number of shares on offer to 12.644 crore from the 14.89 crore planned earlier, according to its red herring prospectus filed in Mumbai late Thursday. The offering will comprise entirely existing shares, representing around 5.1% of the company’s equity capital, down from the roughly 6% proposed earlier.

This means the net proceeds from the issue, after deducting offer-related expenses, will accrue to the selling shareholders. The IPO is aimed solely at facilitating the offer for sale (OFS) and enabling the listing of NSE’s equity shares on the BSE.

The issue size has been reduced by around 15% from the 14.89 crore equity shares proposed in the draft red herring prospectus (DRHP) filed in June 2026. The DRHP was subsequently approved by market regulator SEBI on 4 September 2026.

SBI leads NSE IPO OFS; five shareholders trim stake sale

State Bank of India (SBI) is the largest selling shareholder in the NSE IPO, offering up to 1.59 crore equity shares through the offer for sale (OFS). Canada Pension Plan Investment Board will sell 1.18 crore shares, followed by Aranda Investments (Mauritius) with 1.12 crore shares, MS Strategic (Mauritius) with 1.10 crore shares, and New India Assurance Company with 1.05 crore shares.

According to the red herring prospectus (RHP) filed on September 10, SBI, MS Strategic (Mauritius), Bank of Baroda, Stock Holding Corporation of India and General Insurance Corporation of India have reduced the number of shares they plan to sell through the OFS.

Meanwhile, the proposed share sale by Canada Pension Plan Investment Board, Aranda Investments (Mauritius), New India Assurance Company and United India Insurance Company remains unchanged.

National Insurance Company is no longer participating in the OFS. SBI Capital Markets has been added to the list of selling shareholders and will offer 87.8 lakh equity shares through the issue.

The selling shareholders include State Bank of India, General Insurance Corporation of India Ltd. and Canada Pension Plan Investment Board. However, SBI, Morgan Stanley, Bank of Baroda and General Insurance Corporation have reduced the number of shares they plan to sell in the IPO.

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