NSE IPO Grey Market Premium Hits ₹285 Ahead Of Expected September Listing

The National Stock Exchange’s (NSE) upcoming initial public offering (IPO) has gained momentum in the unofficial market, with its grey market premium (GMP) reaching Rs 285 per share, according to IPO Watch data.

The exchange is expected to launch its IPO in the week beginning September 21, Reuters reported, citing sources familiar with the development. NSE received regulatory clearance for the long-awaited public offering on Friday, paving the way for the listing process.

Strong investor interest ahead of NSE IPO

Large potential investors, including domestic mutual funds, have indicated interest in purchasing NSE shares at around Rs 1,800 apiece during informal discussions, according to the Reuters report. The expected valuation level is likely to influence the formal price band for the IPO.

The offering will be structured entirely as an offer for sale (OFS), meaning NSE will not issue new shares and will not receive any proceeds from the transaction. Existing shareholders will sell up to 14.89 crore equity shares, representing nearly 6% of the exchange’s paid-up capital.

The IPO is expected to provide an exit opportunity for some of NSE’s existing investors while allowing public investors to participate in one of India’s largest financial market institutions.

Major shareholders to sell stakes

The State Bank of India (SBI) Group is the largest shareholder participating in the OFS and will offer up to 2.475 crore shares. Other major shareholders selling stakes include MS Strategic (Mauritius) Ltd, which plans to sell up to 1.60 crore shares.

Canada Pension Plan Investment Board (CPPIB) will offer nearly 1.19 crore shares, while Aranda Investments (Mauritius) Pte Ltd will sell up to 1.12 crore shares. Bank of Baroda and Stock Holding Corporation of India Ltd will also participate, offering around 1.10 crore and 1.09 crore shares, respectively.

The NSE IPO has attracted significant attention as investors await the listing of one of the world’s largest stock exchanges by trading volumes.