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NSE IPO to list on Sept. 24 after oversubscription and grey premium
The issue was subscribed 5.71 times, and the grey market premium of ₹81 implies an estimated listing price of ₹1,866, about 4.5% above the IPO price of ₹1,785.
LiveMint Markets said the National Stock Exchange IPO is likely to list on Thursday, 24 September, at 10:00 IST, after allotment was finalised on Tuesday, 22 September.
The IPO attracted strong demand, with the ₹22,569-crore public issue subscribed 5.71 times, based on BSE data. LiveMint Markets added that the QIB portion was subscribed more than 12 times, while NIIs were subscribed 6.55 times and retail was subscribed 1.39 times, with bids for 50.58 crore shares versus 8.86 crore on offer.
Ahead of listing on the NSE, LiveMint Markets reported a grey market premium (GMP) of +₹81. Using the upper end of the IPO price band, the estimated listing price was indicated at ₹1,866 per share, about 4.5% above the IPO price of ₹1,785, and the GMP has fallen from ₹285 to ₹81 over the past 20 sessions.
LiveMint Markets also cited commentary from Shivani Nyati, Head of Wealth at Swastika Investmart, noting the IPO is priced at around 40.9 to 42.9 times FY26 diluted EPS (based on the ₹1,700 to ₹1,785 band), discounted versus BSE’s valuation of about 54.3 times. She added that nearly 79% of NSE’s revenue is linked to trading activity, making earnings sensitive to market volumes and regulatory changes.