National Stock Exchange IPO launches Thursday with price band of ₹1,700-₹1,785

The National Stock Exchange will begin accepting bids for its IPO on September 17, running for three days until September 21. The issue comprises 12.64 crore shares priced between ₹1,700 and ₹1,785, with a lot size of eight shares, requiring a minimum investment of ₹14,280 at the upper limit. Allocation is split with roughly 50 % for qualified institutional buyers, 15 % for non-institutional investors and 35 % for retail investors, and the proceeds will not flow to the exchange as it is an offer-for-sale.

Lead managers include Kotak Capital, JM Financial, Morgan Stanley India, Citigroup, HSBC Securities, JPMorgan India and several other banks and advisory firms. The grey-market premium stands at ₹208, implying a potential listing price of about ₹1,993, an 11.65 % gain over one outlet unlisted price. Allotment is expected on September 22, with shares slated to list on the BSE on September 24.