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National Stock Exchange Of India Limited

Banking & Financial Services • Total Issue: ₹22562 Cr

Grey Market Premium
+₹56.00(+3.14%)
Indicative Listing: ₹1841.00
Source: IPOAlerts • Updated 21/9/2026
Price Band & Minimums
Offer Price Band
₹1700.00 - ₹1785.00
Lot Size
8 shares
Min Investment
₹14,280
Subscription Status
5.71x
Oversubscribed
Final cumulative subscription
Estimated Listing Gain
+3.14%
Indicative listing: ₹1841.00
Calculated from unofficial GMP, not an actual listing-day return.

Category-Wise Subscription Breakdown

Final cumulative subscription · Overall 5.71x

QIB
12.68x
Offered: 2,52,07,867
Bid: 31,97,15,504
NII
6.55x
Offered: 1,89,00,483
Bid: 12,37,51,624
Retail
1.39x
Offered: 4,41,01,125
Bid: 6,13,05,464
Employee
2.40x
Offered: 4,33,436
Bid: 10,38,792
Total
5.71x
Offered: 8,86,42,911
Bid: 50,58,11,384

Valuation Multiples & Key Ratios

P/E Ratio
24.80x
Market Cap
₹155000.00 Cr
EPS
₹71.98
RoNW
19.80%
NAV / Share
₹425.00
P/B Ratio
4.20x
NSE Market Pulse ResearchSector Climate: UNDERVALUED

Sector Valuation Anchors & Multiples

Comparing National Stock Exchange Of India Limited asking multiples against official 10-year historical sector norms for Banking & Financial Services.

View Source Report
Price to Earnings (P/E)
IPO Asking P/E:24.80x
Sector Current P/E:16.20x
10-Yr Historical Mean:18.50x
+34.1% premium vs 10Y mean
Asset & Earnings Ratios
IPO Asking P/B:4.20x
Sector P/B Ratio:2.10x
Sector YoY Earnings Growth:+16.40%
Sector Dividend Yield:1.10%
Institutional Net Flows
FII Net Flow (Monthly):₹4520.00 Cr
NSE Commentary:

“Banking sector valuations trade below their 10-year average P/E with multi-year high return on equity and benign credit costs.”

Educational Context Only: Official benchmarks published by NSE Economic Policy & Research — Market Pulse. Valuations provide macro reference and do not constitute investment advice.
Sector ID: BANKING

Grey Market Premium (GMP) History

Real-time multi-observation premium trend line and daily price movements.

Latest GMP
+₹56.00
Peak GMP
+₹125.00
Observations
3 points
21 Sept:+₹56.00Est Gain: +3.1%
₹144₹108₹72₹36₹017 Sept21 Sept21 Sept
Historical Daily Observations (3)
17 Sept
+₹125.00
21 Sept
+₹3.41
21 Sept
+₹56.00

IPO Timeline & Schedule

Bidding Opens
2026-09-17
Bidding Closes
2026-09-21
Allotment Date
2026-09-22
Refunds Init
2026-09-23
Demat Credit
2026-09-23
Listing Date
2026-09-24
Official IPO Registrar

MUFG Intime India Private Limited (formerly Link Intime India Private Limited)

Check Allotment on Registrar Portal

About National Stock Exchange Of India Limited

The National Stock Exchange of India (NSE) is a premier market infrastructure institution providing electronic trading, listing, clearing, and settlement services across equities, derivatives, debt, and mutual funds. It offers colocation, connectivity, data feeds, and index licensing. Supported by robust technology for risk management and surveillance, NSE generates its primary revenue from transaction charges, supplemented by listing, clearing, data center, and licensing fees.

Key Business Strengths

  • NSE operates one of India’s largest electronic trading platforms across multiple asset classes.
  • The company has diversified revenue streams from trading, listing, clearing, data, connectivity and licensing services.
  • Its technology infrastructure can process very high transaction volumes with low response times.
  • NSE has a large and diverse customer base including issuers, trading members, investors and data users.
  • The company has established risk management, surveillance and investor protection mechanisms to support market operations.

Key Risks & Challenges

  • A significant drop in trading activity could materially reduce the company’s revenue and profitability.
  • NSE derives a major portion of its revenue from transaction charges, particularly options and futures trading.
  • Failures or disruptions in its technology systems could affect trading operations and investor confidence.
  • The business depends on regulatory approvals, and delays or rejections could limit new product launches.
  • A large share of revenue comes from a limited number of trading members, creating customer concentration risk.

Transparency & Informational Notice

Grey Market Premium (GMP) is unofficial, unregulated market pricing gathered from market participants and brokers. It is provided for educational and observation purposes only and does not represent guaranteed listing price or investment advice.