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NSE IPO GMP Holds at 11–12% After Price Band Announcement
The National Stock Exchange of India is planning to sell shares to investors through an IPO.
An IPO is a way for people to buy shares before they are listed on a stock exchange.
The share price has been set between ₹1,700 and ₹1,785.
In the grey market, where shares are informally traded before listing, the shares are being offered at about ₹207 above the upper IPO price.
That suggests a possible listing price of around ₹1,992, although this is only an estimate.
Recent grey market prices have moved between ₹192 and ₹310.
The IPO will not create new shares; existing shareholders will sell some of theirs.
State Bank of India plans to sell the largest disclosed number of shares.
LIC will not sell any shares and will keep its full stake.
NSE IPO shares command a grey market premium of ₹207, implying an estimated listing price of ₹1,992.
The ₹1,700–₹1,785 price band was announced ahead of bidding from September 16 to September 21, 2026.
The issue could raise up to ₹22,561.57 crore at the upper price-band level.
The IPO is entirely an offer for sale of up to 12.64 crore shares, with no fresh share issuance.
State Bank of India is the largest disclosed selling shareholder, while Life Insurance Corporation of India will retain its 10.72% stake.
- Who
- The National Stock Exchange of India and its existing shareholders, including State Bank of India, Canada Pension Plan Investment Board and Aranda Investments.
- What
- A proposed IPO involving the sale of up to 12.64 crore existing equity shares through an offer for sale.
- Where
- The shares are planned to be listed on the main board of BSE Limited.
- When
- Eligible investors can bid from September 16, 2026; other investors from September 17; the offer closes on September 21, 2026.
- Why
- Existing shareholders are selling shares through the offer for sale; the company will not issue fresh shares.
Key facts
- Grey market premium
- ₹207 per share
- Estimated listing price
- ₹1,992, or 11.60% above the upper IPO price of ₹1,785
- IPO price band
- ₹1,700–₹1,785 per equity share
- Potential offer size
- Up to ₹21,486.53 crore at the lower band and ₹22,561.57 crore at the upper band
- Offer structure
- Offer for sale of up to 12.64 crore shares; no fresh issue
- Minimum bid
- Eight equity shares, followed by multiples of eight
- Employee discount
- ₹170 per equity share
- Planned listing exchange
- Main board of BSE Limited
Sources
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