National Stock Exchange of India (NSE) IPO

NSE IPO comprises a total issue size of 12,64,36,650 shares. The net offer to the public is 12,60,03,214 shares, after excluding 4,33,436 shares under a preferential allotment. Of the Net offer 6,30,01,606 (50.00%) are allocated to QIB , 1,89,00,483 (15.00%) allocated to NII 4,41,01,125 (35.00%) allocated to RII .

Investors can bid for a minimum of 8 shares and in multiples thereof.

Incorporated in 1992, National Stock Exchange of India Limited (NSE) is India's largest stock exchange and one of the world's leading multi-asset exchange platforms. NSE provides a vertically integrated ecosystem comprising trading, clearing, settlement, listing, market data, index services, and regulatory oversight across multiple asset classes, including equities, derivatives, currency derivatives, commodities, debt securities, and mutual funds.

NSE has consistently maintained its leadership position in India in cash market turnover, equity derivatives trading, and currency derivatives trading. As of June 30, 2026, the exchange served over 261.36 million registered investor accounts, 129 million unique investors, 1,328 trading members, and 3,005 listed companies, with a total listed market capitalization of approximately ₹474.08 trillion.

The exchange operates on a highly scalable and resilient technology infrastructure that supports high-frequency trading, real-time market data dissemination, risk management, surveillance, and regulatory compliance. NSE plays a critical role in India's capital market ecosystem by promoting transparency, investor protection, efficient price discovery, and broad-based financial inclusion across more than 99% of Indian postal codes.

As of March 31, 2026, its market share based on total turnover in cash market stood at 99.79%, 74.71% in equity futures market, 99.48% in equity options, and 100% in exchange-traded currency options, based on total premium turnover.

Additionally, it also has non-trading revenue stream to cater to diverse needs, such as:

NSE Clearing Ltd. offering clearing services. In Fiscal 2026, its market share is 88.42% in cash market, 91.04% in equity derivatives, and 74.09% in exchange-traded derivatives.

NSE Indices Ltd. develops and manages a wide range of indices.

NSE Data and Analytics Ltd. offering data analytics services, providing comprehensive real-time market data, benchmark data, fixed income valuations and analytical tools to institutional investors, asset managers and regulator.

NSE International Exchange offering foreign currency denominated trading services.

Other services like mutual fund registry, back-end exchange support services, e-corporate governance, etc.

Key Strengths

Market leader in India – a liquid market for all stakeholders.

Well positioned to benefit from India’s structural growth tailwinds.

Strong brand synonymous with trust, efficiency and transparency, across its trading platform as well as clearing, settlement and market supervisory role

Track record of comprehensive and innovative offerings delivered through a vertically integrated business model.

Technology platform built for scale and resilience.

Comprehensive product offerings across multiple asset classes.

Consistent profitability, cash generation, and financial performance.

Experienced management team with strong governance and regulatory expertise.

National Stock Exchange of India Ltd.'s revenue decreased by 2% and profit after tax (PAT) dropped by 15% between the financial year ending with March 31, 2026 and March 31, 2025.

The NSE IPO is subscribed 5.71 times on September 21, 2026 6:54:59 PM (Day 3). The public issue subscribed 1.39 times in the retail category, 12.68 times in the QIB category, and 6.55 times in the NII category. Check Day by Day Subscription Details (Live Status)

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Total Applications: 38,41,852

Kotak Mahindra Capital Co.Ltd.

Morgan Stanley India Co.Pvt.Ltd.

HSBC Securities & Capital Markets (India) Pvt.Ltd.

Avendus Capital Pvt.Ltd.

Dam Capital Advisors Ltd.

HDFC Bank Ltd.

IDBI Capital Markets & Securities Ltd.

Motilal Oswal Investment Advisors Ltd.

Pantomath Capital Advisors Pvt.Ltd.

JM Financial Ltd.

Citigroup Global Markets India Pvt.Ltd.

JP Morgan India Pvt.Ltd.

Anand Rathi Advisors Ltd.

Axis Capital Ltd.

Equirus Capital Ltd.

ICICI Securities Ltd.

IIFL Capital Services Ltd.

Nuvama Wealth Management Ltd.

360 One WAM Ltd.