NSE IPO subscribed 0.43 times on day 1, NII bids highest

By ET BureauLast Updated: Sep 18, 2026, 04:54:00 AM IST

Synopsis

The National Stock Exchange's large initial public offering saw limited subscription on its first day. Non-institutional investors placed the most bids, while retail and qualified institutional buyers showed less interest. This offer for sale involves existing shareholders selling their stakes, not raising new capital for the exchange. The subscription period remains open until September twenty-first, with shares expected to list soon after.

Mumbai: The National Stock Exchange's ₹22,561-crore IPO was subscribed 0.43 times on Thursday, the first day of subscription, with the non-institutional investor (NII) category receiving the highest amount of bids. The issue received bids for 3.70 crore shares against 8.86 crore shares on offer, according to subscription data available on NSE as of 7 pm on Thursday.

The qualified institutional buyers (QIBs) portion was subscribed 0.19 times, while the NII category was subscribed 0.72 times. The retail investor portion was subscribed 0.44 times, according to NSE data.

Read more: Rentomojo shares jump 9% after listing at 19% premium over IPO price. Can the debut-day mojo last?

The issue will remain open until Sep 21, and the shares will list on the BSE on Sep 24.

The IPO is entirely an offer for sale (OFS) of 12.64 crore shares by 10 existing shareholders, with a price band of ₹1,700-1,785 per share. There is no fresh issue, which means NSE will not receive any proceeds from the IPO. After issue-related expenses, the proceeds will go to the selling shareholders.

Read more: Retail investors pull Rs 5,674 crore from stocks, invest Rs 12,618 crore into IPOs in July-August

The issue size was cut 15% from the 14.89 crore shares proposed in the draft red herring prospectus (DRHP) filed in June 2026.

NSE's share sale on Wednesday drew more than 150 anchor investors, with overseas funds collectively garnering 43% of the stock on offer for this category of bidders.

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