6 hrs ago
NSE IPO Lock-In Debate: Chauhan Downplays Post-Listing Selling Concerns
The National Stock Exchange plans to sell shares to the public in an IPO.
The IPO is expected to begin on September 17, 2026.
Each share will be priced between ₹1,700 and ₹1,785.
The sale will involve existing owners selling their shares, rather than NSE creating new shares.
Some experts think many early investors may sell when a six-month restriction ends.
NSE chief Ashishkumar Chauhan disagrees that there will be very heavy selling.
He says many investors did not sell more shares because they thought the IPO price was lower than they wanted.
He also says most large investors are financially strong and are not in a hurry for cash.
The shares will trade on the BSE rather than the NSE to support neutral regulation.
The National Stock Exchange IPO is scheduled to open on September 17, 2026, with a price band of ₹1,700–₹1,785 per share.
The issue will offer only shares through an offer for sale, with no new shares issued by NSE.
Market observers expect limited initial share movement and possible selling after the six-month lock-in period ends.
NSE Managing Director and CEO Ashishkumar Chauhan said major shareholders are unlikely to sell heavily because they were dissatisfied with the IPO price.
The IPO will list only on the BSE because exchange regulations require NSE shares to be traded on a neutral exchange.
- Who
- The National Stock Exchange, its shareholders, market observers, and NSE Managing Director and CEO Ashishkumar Chauhan.
- What
- NSE is preparing an IPO involving an offer for sale, while debate continues over possible selling after the six-month lock-in period.
- Where
- The IPO will be listed on the BSE rather than the NSE.
- When
- The IPO is scheduled to hit the Indian primary market on September 17, 2026; the lock-in period ends six months later for the affected shareholders.
- Why
- Market observers expect some shareholders to sell after the lock-in ends, while Chauhan says shareholders are not under financial pressure and may consider the IPO price too low.
Market Observers
Ashishkumar Chauhan and NSE
Selling after the lock-in
Market Observers
Market observers expect the main test for NSE shares to come when the six-month lock-in ends, with pre-IPO shareholders potentially selling to maximize returns.
Ashishkumar Chauhan and NSE
Chauhan expects some selling but says it is unlikely to reach the scale feared by market observers.
Shareholder motivation
Market Observers
Observers believe shareholders may sell once restrictions end to realize gains or maximize their returns.
Ashishkumar Chauhan and NSE
Chauhan says shareholders generally sell only when they urgently need money or when the share price reaches a level they have targeted.
Financial pressure
Market Observers
The possibility of substantial selling implies that some investors may want to monetize their holdings after the lock-in.
Ashishkumar Chauhan and NSE
Chauhan says most major pre-IPO investors, especially institutions, are financially sound and unlikely to face a liquidity crisis.
Key facts
- IPO date
- September 17, 2026
- Price band
- ₹1,700 to ₹1,785 per equity share
- Issue structure
- Offer for sale; no additional stock is being created by NSE
- Reported grey-market premium
- ₹210
- Indicative premium
- About 12%, according to the article
- Lock-in period
- Six months for pre-IPO shareholders
- Listing venue
- BSE
Quotes
Ashishkumar Chauhan
NSE chief executive officer and managing director
“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.”
livemint.com
“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.”
livemint.com
Sources
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