NSE launches IPO bidding on Sept 17, aims for listing by Sept 24

The National Stock Exchange of India announced that its IPO will open for bidding on Sept 17 and close on Sept 21, with final allotments likely on Sept 22 and a proposed listing on Sept 24. The offering is an offer-for-sale, meaning proceeds go to existing shareholders rather than the exchange, and the issue size has been reduced from the earlier plan to a range of ₹21,494-₹22,567 crore. Shares carry a face value of ₹1 and a price band of ₹1,700-₹1,785, representing about 43 times face value at the top of the band.

Allocation will be split 50 % to qualified institutional buyers, 35 % to retail investors and 15 % to non-institutional investors. Major sellers include State Bank of India, MS Strategic, Aranda Investments and several insurance and investment firms, each projected to book substantial gains. Grey-market trading shows a premium of roughly 10 % over the upper price band. A consortium of banks and financial houses, including Kotak Capital, JM Financial and Morgan Stanley India, will act as book-running lead managers.