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NSE IPO Raises ₹6,746 Crore From Anchor Investors
The National Stock Exchange of India is preparing to sell shares to the public.
Before the IPO opened, large investors agreed to buy shares worth about ₹6,746 crore.
These investors included LIC, GIC Singapore, Norges Bank, ADIA, Fidelity and many Indian financial institutions.
Foreign investors received about 43% of the anchor shares, while Indian funds, insurers and pension funds received about 53%.
NSE set the share price between ₹1,700 and ₹1,785.
Existing shareholders are selling their shares, so NSE itself will not receive money from the IPO.
The exchange reported strong profits but also lower income and profit than the previous fiscal year.
The reports disagree about the exact number of investors, shares offered, total issue size and closing date.
NSE allocated shares worth about ₹6,745-6,746 crore to anchor investors at ₹1,785 per share.
Reports differ on participation, citing more than 100, 150-plus, or 189 anchor investors.
Foreign portfolio investors received ₹2,883 crore, or about 43% of the anchor allocation.
Domestic mutual funds, insurers and pension funds received about 53%, or roughly ₹3,588 crore.
The IPO is an offer for sale priced at ₹1,700-1,785 per share, with reports differing on its size, share count and closing date.
- Who
- The National Stock Exchange of India, existing shareholders and institutional investors including LIC, Norges Bank, ADIA, GIC Singapore, Fidelity and SBI-linked entities.
- What
- NSE allocated approximately ₹6,745-6,746 crore of shares to anchor investors ahead of its IPO.
- Where
- The IPO concerns India's National Stock Exchange, with listing expected on the Bombay Stock Exchange.
- When
- The reports say bidding begins on September 17; they differ on whether subscription closes on September 19 or September 21. Reported listing dates are September 24 or September 25.
- Why
- Existing shareholders are selling their stakes through an offer for sale, while investors are participating based on NSE's market position, profitability, technology infrastructure and growth prospects.
IPO Appeal
Risks And Uncertainties
Investment case
IPO Appeal
Brokerages and participating investors pointed to NSE's dominant market position, profitability, technology infrastructure and long-term growth potential.
Risks And Uncertainties
Brokerages cautioned that NSE's performance depends on trading volumes and could be affected by regulatory changes.
Anchor demand
IPO Appeal
The anchor book attracted broad participation from sovereign wealth funds, foreign funds, domestic mutual funds, insurers and pension funds; NSE also reported bids of about ₹1.2 lakh crore from more than 150 investors.
Risks And Uncertainties
The reports give different figures for the number of anchor investors and the amount of demand, making the exact participation details unclear.
IPO terms
IPO Appeal
The offering is expected to raise more than ₹22,000 crore and has attracted major institutional buyers before public subscription begins.
Risks And Uncertainties
Reports conflict on the total issue size, shares offered, subscription closing date and listing date; one report also describes the allocation as the third-largest anchor book while another says the issue could become India's largest public offering, despite citing a smaller value than Hyundai Motor India's reported record.
Key facts
- Anchor allocation
- Approximately ₹6,745-6,746 crore; 37.79 million shares were reportedly allocated at ₹1,785 each.
- Reported investor count
- The reports cite more than 100 investors, more than 150 investors, or 189 investors.
- Price band
- ₹1,700-1,785 per share; one report gives a lot size of eight shares.
- Foreign participation
- Foreign portfolio investors received ₹2,883 crore, representing about 43% of the anchor book.
- Domestic participation
- Domestic mutual funds, insurers and pension funds received about ₹3,588 crore, or 53% of the anchor allocation.
- IPO structure
- The offering is entirely an offer for sale, with no fresh issue component; existing shareholders are selling shares.
- Financial performance
- NSE reported fiscal 2026 total income of ₹18,713.37 crore and profit attributable to shareholders of ₹10,302.06 crore, compared with ₹19,176.83 crore and ₹12,187.94 crore respectively in fiscal 2025.
- Reported issue details
- Reports cite a total issue size of approximately ₹22,561.57-22,568 crore and either 12.64 crore shares or up to 14.89 crore shares.
Sources
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