NSE IPO subscribed 5.71X; retail investors show muted response

The National Stock Exchange of India’s (NSE) much-awaited IPO closed with a 5.71X subscription on September 21, with investors bidding for 50.58 crore shares against 8.86 crore shares on offer. The IPO was open from September 17 to September 21 with a price band of Rs 1,700-1,785 per share. At the upper price band, the issue is valued at around Rs 22,561 crore. The IPO is entirely an offer for sale (OFS), meaning existing shareholders are selling their shares and NSE itself will not receive the IPO proceeds. The minimum lot size was eight shares, requiring retail investors to invest at least Rs 14,280 at the upper price band. Institutional investors drove most of the demand. The QIB portion was subscribed 12.68X, while the non-institutional investor category was subscribed around 6.6X. The retail portion, however, was subscribed only around 1.4X. NSE operates India’s largest stock exchange and has a major position in the equity and derivatives markets. It had more than 129 million registered investors by March 2026, up around 40% from the previous year. NSE accounted for around 93% of India's cash-market turnover and about 75% of options trading, according to Reuters. However, its financial performance was softer in FY26. NSE’s revenue from operations declined 3% to Rs 16,601 crore, while total income fell 2% to Rs 18,713 crore. Its consolidated profit after tax declined 15% to Rs 10,302 crore from Rs 12,188 crore in FY25. The decline came amid regulatory changes and lower activity in the derivatives market, which remains an important part of NSE’s business. Despite this, the exchange attracted strong institutional demand and is set to make its stock-market debut on September 24. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.

Original source: Entrackr