NSE IPO Subscription Status Day 1: GMP and Allotment Date

Mumbai | 17 September 2026 

Bidding for the National Stock Exchange of India (NSE) initial public offering (IPO) opened on 17 September and closes on 21 September, with a price band of ₹1,700 to ₹1,785 per share. The issue was subscribed 0.28 times overall as of 1:02 pm on Day 1, with category-wise bidding data and GMP updated to 1:46 pm and 1:02 pm respectively, both expected to change as bidding continues through the week. 

What Is the NSE IPO Subscription Status on Day 1? 

A subscription figure shows how many times the shares reserved for a category have received bids. A figure below one means the category has not yet been fully bid for, while a figure above one means bids have exceeded the shares on offer. 

The NSE IPO was subscribed 0.28 times overall as of 1:02 pm on Day 1. By 1:46 pm, the retail portion was subscribed 0.33 times, non-institutional investors (NII) 0.44 times and qualified institutional buyers (QIB) 0.18 times. 

Overall figure as of 1:02 pm. Category-wise figures as of 1:46 pm on Day 1. 

How Has the NSE IPO GMP Trended? 

The grey market premium (GMP) is the price at which NSE IPO shares are informally traded before they list on the stock exchange, outside any regulated platform. 

The GMP for the NSE IPO stood at ₹152 as of 1:02 pm on 17 September. Against the upper price band of ₹1,785, this implies a listing price of around ₹1,937, a premium of about 8.52%. Over the last 14 trading sessions, the GMP has ranged between a low of ₹145 and a high of ₹310. 

GMP is an unofficial, informal indicator and does not guarantee the actual listing price or future performance of the stock. 

What Do the Category Quotas Mean for Allotment? 

Of the net offer, up to 50% is reserved for qualified institutional buyers, not less than 15% for non-institutional investors and not less than 35% for retail investors. 

This means at least 35% of the NSE IPO is set aside for retail bidders and at least 15% for non-institutional investors, regardless of demand in the QIB category, which can claim up to half the total offer. 

What Are the Price Band and Lot Size for the NSE IPO? 

The NSE IPO price band is fixed at ₹1,700 to ₹1,785 per share, with the offer for sale worth up to ₹22,561.57 crore. The lot size is 8 shares. 

At the upper end of the price band, a retail investor applying for the minimum one lot needs ₹14,280. The entire issue is an offer for sale, so NSE will not receive fresh capital from the proceeds. 

Kotak Mahindra Capital Co. Ltd is the lead manager to the issue, and MUFG Intime India Pvt. Ltd is the registrar. The shares will list on BSE. 

What Are the Key Dates for the NSE IPO? 

The table below lists the tentative NSE IPO schedule, from bidding close through to listing. 

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