NSE IPO to Open Soon: Check GMP, Price Band, Issue Size, Valuation, Financials and Key Details

The NSE IPO is expected to be one of the most closely watched IPOs in the Indian market. The issue is proposed as a 100% Offer for Sale (OFS) of 14.89 crore shares, meaning National Stock Exchange of India Ltd. will not receive any funds from the IPO.

As of September 6, 2026, the NSE IPO dates and price band are yet to be announced. The latest grey-market data shows an indicative NSE IPO GMP of ₹286, although the GMP data currently does not have an official issue price to calculate a meaningful listing premium.

NSE IPO Details

The NSE IPO is a book-building issue involving 14,89,05,525 shares. Since the entire issue is an OFS, the proceeds will go to the selling shareholders rather than the company.

Kotak Mahindra Capital Company is listed as the book-running lead manager, while MUFG Intime India is the registrar.

IPO Metric	Details
IPO dates	To be declared
Price band	To be declared
Face value	₹1 per share
Issue type	Bookbuilding IPO
Sale type	100% OFS
Total issue size	14,89,05,525 shares
Fresh issue	Nil
Offer for Sale	14,89,05,525 shares
Listing	BSE
Market Cap	To be declared

NSE IPO Subscription and Investor Reservation

The NSE IPO subscription dates are yet to be announced, so there is currently no official subscription figure. Once the issue opens, investors will be able to track QIB, NII and retail demand separately.

The issue reservation structure provides for up to 50% for QIBs, at least 15% for NIIs and at least 35% for retail investors.

Investor Category	Reservation
QIB	Not more than 50% of Net Offer
Retail	Not less than 35% of Net Offer
NII	Not less than 15% of Net Issue

What Does National Stock Exchange of India Do?

National Stock Exchange of India Ltd. (NSE) is India's largest stock exchange and operates across equities, derivatives, currency derivatives, commodities, debt securities and mutual funds.

Its business includes trading, clearing, settlement, listing, market data, index services, technology and risk-management infrastructure. As of March 31, 2026, NSE had more than 253 million registered investor accounts, 129 million unique investors and 2,978 listed companies.

NSE Financial Performance

NSE reported ₹18,713.37 crore of total income and ₹10,302.06 crore of PAT in FY26. However, according to the supplied financial data, revenue declined from ₹19,176.83 crore in FY25, while PAT fell from ₹12,187.69 crore.

Period Ended	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	87,937.44	69,466.64	65,463.98
Total Income	18,713.37	19,176.83	16,352.06
Profit After Tax	10,302.06	12,187.69	8,305.74
EBITDA	11,097.90	12,646.88	9,869.81
Net Worth	31,869.72	30,165.05	23,833.10
Reserves and Surplus	31,866.04	30,105.83	23,924.91
Total Borrowing	0.00	0.00	0.00

Amount in ₹ crore.

NSE IPO GMP Today

The latest supplied data shows NSE IPO GMP at ₹286 on September 6, 2026. However, the issue price is currently shown as ₹0/not declared, so the estimated listing price and percentage premium shown by the GMP tracker are not meaningful until NSE announces its official price band.

Date	IPO Price	GMP	Estimated Listing Price
06 Sep 2026	₹0*	₹286	₹286*
05 Sep 2026	₹0*	₹310	₹310*
04 Sep 2026	₹0*	₹285	₹285*

Issue price has not been announced. GMP is unofficial and should not be treated as a guaranteed listing price.

NSE IPO Objects of the Issue

The NSE IPO is entirely an OFS, so the company will not receive funds from the public issue. The IPO proceeds will go to the existing selling shareholders.

This is an important point for investors because, unlike a fresh issue, the IPO will not directly add capital to NSE's balance sheet.

NSE IPO Valuation

The final valuation of National Stock Exchange of India Ltd. cannot be calculated until the company announces its IPO price band.

The supplied data shows FY26 EPS of ₹41.62. Investors will be able to calculate the IPO P/E once the final issue price is announced.

Valuation Metric	Pre IPO	Post IPO
EPS (₹)	41.62	41.62

NSE IPO Key Performance Indicators

NSE reported strong profitability and return ratios in FY26. Its EBITDA margin was 66.85%, while PAT margin stood at 50.98%.

KPI	Mar 31, 2026
ROE	32.98%
ROCE	42.80%
RoNW	33.21%
PAT Margin	50.98%
EBITDA Margin	66.85%
NAV	₹129.75

Who Are the NSE IPO Selling Shareholders?

The IPO involves several existing shareholders selling part of their holdings. Major disclosed selling shareholders include State Bank of India, MS Strategic (Mauritius), Canada Pension Plan Investment Board, Aranda Investments (Mauritius) and Bank of Baroda.

Selling Shareholder	Category	Shares Offered
State Bank of India	Corporate	1,59,69,410
MS Strategic (Mauritius) Ltd.	Corporate	1,60,00,000
Canada Pension Plan Investment Board	Corporate	1,18,74,060
Aranda Investments (Mauritius) Pte. Ltd.	Corporate	1,12,46,336
Bank of Baroda	Corporate	1,09,86,250

NSE IPO: What Should Investors Watch?

The biggest factors to watch are the final NSE IPO price band, valuation, GMP, subscription demand and comparison with listed exchange peer BSE. The company has strong profitability and zero borrowings in the supplied financials, but FY26 revenue and PAT were lower than FY25.

Since the issue is a 100% OFS, investors should also focus carefully on the valuation at which existing shareholders are selling their shares. The final IPO price will be crucial in deciding whether the NSE IPO looks attractive for listing gains or long-term investment.

NSE IPO Important Dates

The NSE IPO opening date, closing date, allotment date and listing date have not yet been announced as of September 6, 2026.

IPO Event	Date
IPO Open	To be declared
IPO Close	To be declared
Allotment	To be declared
Refund	To be declared
Share Credit	To be declared
Listing	To be declared

NSE IPO FAQs

Is NSE IPO a fresh issue or OFS?

The NSE IPO is a 100% Offer for Sale, so National Stock Exchange of India Ltd. will not receive IPO proceeds.

Is NSE IPO a good IPO to buy?

The NSE IPO could attract strong investor interest because of NSE's market position, profitability and high margins. However, whether it is a good buy will depend heavily on the final valuation and price band.

What is the NSE IPO GMP today?

The latest supplied NSE IPO GMP is ₹286 as of September 6, 2026. Since the official NSE IPO price band is not yet announced, this GMP cannot currently be used for a reliable listing-price calculation.

When will NSE IPO price band be announced?

The NSE IPO price band has not been announced as of September 6, 2026. The final price band will be important for determining the IPO's valuation and expected listing premium.

Is NSE IPO better than BSE stock?

Investors comparing NSE IPO and BSE should consider valuation, earnings growth, market share, profitability and future regulatory risks. NSE's final IPO valuation will determine how attractive it is compared with BSE.

Why is NSE IPO entirely an OFS?

The NSE IPO is structured entirely as an OFS, allowing existing shareholders to sell their holdings. NSE itself does not need to raise fresh capital through the issue.

What is NSE IPO EPS?

The supplied FY26 financial data shows NSE EPS of ₹41.62. The final IPO P/E will depend on the issue price.

Does NSE have debt?

According to the supplied FY24-FY26 financial data, NSE reported zero total borrowings in all three years.

What are the main risks of NSE IPO?

Key risks for the NSE IPO include high valuation, regulatory changes affecting trading volumes, dependence on market activity, competition from BSE and changes in derivatives trading regulations.

Who are the major NSE IPO shareholders selling shares?

Major selling shareholders in the NSE IPO include State Bank of India, MS Strategic (Mauritius), Canada Pension Plan Investment Board, Aranda Investments and Bank of Baroda.