NSE IPO Day 3: Subscription Status, GMP & Key Details
- 21st September 2026
- 01:15 PM
- 3 min read
Summary
The National Stock Exchange of India (NSE) initial public offering (IPO) was subscribed 2.38x overall as of 1:11 pm on 21 September 2026, the third and final day of bidding. The grey market premium (GMP) stood at ₹70. The issue is entirely an offer for sale, with allotment expected on 22 September 2026 and listing expected on 24 September 2026.Mumbai | 21 September 2026
The initial public offering of National Stock Exchange of India Limited entered its third and final day of bidding on 21 September 2026, with the issue subscribed 2.38x overall as of 1:11 pm.
What Is the NSE IPO Subscription Status on Day 3?
A subscription figure shows how many times the shares reserved for a category have received bids. As of 1:11 pm on 21 September 2026, the issue stood at 2.38x overall, up from 1.04x at the end of Day 2 on 18 September 2026. The table below compares each category across the two days.
| Category | Day 2 (end of day, 18 September 2026) | Day 3 (as of 1:11 pm, 21 September 2026) |
| Qualified institutional buyers (QIBs) | 1.32x | 3.75x |
| Non-institutional investors (NIIs) | 1.46x | 3.74x |
| Retail investors | 0.69x | 1.03x |
| Overall | 1.04x | 2.38x |
What Is the NSE IPO GMP on Day 3?
The grey market premium (GMP) for the NSE IPO stood at ₹70 on 21 September 2026, which indicates an estimated listing price of ₹1,855 per share, a premium of 3.92% over the upper limit of the price band of ₹1,785.
GMP is an unofficial, informal indicator and does not guarantee the actual listing price or future performance of the stock.
What Are the Price Band, Issue Size and Valuation of the NSE IPO?
The NSE IPO price band is ₹1,700 to ₹1,785 per share, and the lot size is 8 shares. At the upper price band, the post-issue shareholding of 2,47,50,00,000 shares implies a market capitalisation (the total value of all shares) of ₹4,41,787.50 crore. The issue size is ₹22,561.57 crore.
| Detail | Figure |
| Issue type | Offer for sale (OFS) of 12.64 crore shares |
| Fresh issue | None |
| Anchor investors (16 September 2026) | ₹6,746.18 crore from 3.78 crore shares at ₹1,785 each |
| QIB reservation | Up to 50% of the net offer |
| Retail reservation | Not less than 35% |
| NII reservation | Not less than 15% |
Existing shareholders sell all the shares, so NSE receives no proceeds and the money goes to the selling shareholders.
What Are the Allotment and Listing Dates for the NSE IPO?
The NSE IPO closes for bidding on 21 September 2026, and the shares are expected to list on the Bombay Stock Exchange (BSE). The table below shows the tentative schedule for allotment, refunds, the credit of shares to dematerialised (demat) accounts and listing.
| Event | Date |
| Bidding closes | Monday, 21 September 2026 |
| Basis of allotment (expected) | Tuesday, 22 September 2026 |
| Refund initiation (expected) | Wednesday, 23 September 2026 |
| Credit of shares to demat (expected) | Wednesday, 23 September 2026 |
| Listing date (expected) | Thursday, 24 September 2026 |
What Does NSE Do?
Incorporated in 1992, NSE is India’s largest stock exchange and a multi-asset exchange platform covering trading, clearing, settlement, listing, market data and index services. It has a market share of around 93% in the cash market (regular share trading) and around 99.8% in equity futures (contracts on shares for a future date).
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