Introduction to the NSE IPO
The National Stock Exchange (NSE) Initial Public Offering (IPO) closes today, September 21, 2026, giving investors their final chance to subscribe to the mega issue valued at Rs 22,561.57 crore.
Subscription Status
The IPO received strong demand across categories and was fully subscribed on the second day of bidding itself. This indicates a high level of interest from investors.
Pricing and Valuation
The NSE IPO is priced in the range of Rs 1,700-1,785 per share. At the upper price band of Rs 1,785, NSE is valued at a post-issue Price-to-Earnings (P/E) ratio of 35.4x. This is comparatively lower than its key listed peer, BSE, which has a P/E ratio of 54.2x. According to Angel One, this makes the NSE issue attractive relative to BSE.
Use of IPO Proceeds
It is important to note that the NSE IPO is an Offer for Sale (OFS), meaning that the company itself is not issuing fresh shares to raise funds. Instead, existing shareholders are selling part of their holdings through the public issue. Consequently, the proceeds from the IPO will go to the selling shareholders, not to NSE for new projects or business expansion.
Timeline
The allotment of shares is expected to be finalised on September 22, 2026, and the shares are scheduled to list on the BSE on September 24, 2026.
Conclusion
The NSE IPO presents an opportunity for investors to be part of one of India's leading stock exchanges. With strong demand indicated by full subscription on the second day, investors are showing confidence in NSE's market position and earnings potential.