4 hrs ago
Experts Say NSE IPO Price Band Cannot Exceed ₹1,750
The National Stock Exchange of India may soon sell shares to the public.
Experts are trying to predict the price range for those shares.
They say the upper price should be below ₹1,750 because similar unlisted shares were valued at about ₹2,050 and the grey market premium was about ₹300.
Some media reports had speculated about a higher range of ₹1,800 to ₹2,100.
The IPO would sell shares owned by existing investors rather than issue new shares for NSE.
This means NSE itself would not directly receive the money from the sale.
One expert said investors may consider applying if the price stays below ₹1,750.
The IPO is expected to open and list in September 2026, although the exact dates depend on the final schedule.
Experts expect the NSE IPO’s upper price band to remain below ₹1,750 per share.
NSE shares traded at about ₹2,050 in the unlisted market on September 7, 2026.
The estimated grey-market premium was ₹300 on September 7, later falling to ₹273.
Experts emphasize that the IPO is a 100% offer for sale, benefiting selling shareholders rather than NSE itself.
The IPO could open between September 14 and 18 and list between September 21 and 25, 2026.
- Who
- The National Stock Exchange of India, its pre-IPO investors, primary-market experts, and potential investors.
- What
- The NSE is preparing an IPO, with experts predicting an upper price band below ₹1,750 per share.
- Where
- In India’s primary and unlisted equity markets.
- When
- The price discussion concerns September 7-8, 2026; the IPO is expected to list during the week beginning September 21, 2026.
- Why
- Experts say a price above ₹1,750 would imply a high valuation and leave little potential benefit for IPO investors after accounting for the grey-market premium.
Lower-price advocates
Higher-price speculation
Expected IPO price
Lower-price advocates
Arun Kejriwal and Avinash Gorakshkar said the upper price band should be below ₹1,750, based on the ₹2,050 unlisted price minus the roughly ₹300 grey-market premium.
Higher-price speculation
Media reports had speculated that the NSE IPO could be priced between ₹1,800 and ₹2,100, although the article does not identify a confirmed issuer price in that range.
Investor response
Lower-price advocates
Gorakshkar said investors could consider applying if the price remains below ₹1,750, while investors may avoid the issue or wait for post-listing prices if the valuation is higher.
Higher-price speculation
A higher price could reflect stronger valuation expectations, but the cited experts warned that it would leave less value for primary-market investors.
Key facts
- Expected upper price limit
- Below ₹1,750 per share, according to the cited experts.
- Unlisted-market price
- Approximately ₹2,050 on September 7, 2026.
- Grey-market premium
- About ₹300 on September 7, falling to ₹273 afterward.
- Offer structure
- A 100% offer for sale, meaning existing shareholders would sell their shares.
- Potential listing price
- About ₹2,250, plus or minus ₹50, according to Avinash Gorakshkar.
- Expected IPO opening
- September 14-18, 2026, depending on the listing date.
- Expected listing window
- September 21-25, 2026.
Quotes
Avinash Gorakshkar
Founder of Avinash Mentor Research
“Technically and traditionally, the NSE IPO price band won't be above ₹1,750 and in that case, it is advisable for investors to apply for the NSE IPO.”
livemint.com
“So, an investor must remember the NSE IPO is 100% OFS.”
livemint.com
Sources
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