NSE IPO Fully Subscribed on Second Day as Grey‑Market Premiums Slide

Overview

• The National Stock Exchange’s Rs 22,569-crore initial public offering was fully subscribed on its second day of bidding on Friday.
• The offer is a pure offer for sale of up to 12.64 crore shares at a price band of Rs 1,700 to Rs 1,785, so all proceeds go to existing sellers rather than to the exchange.
• Institutional demand led the book with qualified institutional buyers and non-institutional investors subscribed about 1.32x and 1.35x respectively.
• Retail investors booked roughly 65–66% of their quota.
• Unofficial grey-market premiums slid from about Rs 218 at their peak to around Rs 84 by September 19 even as NSE’s market share remains dominant and FY26 revenue showed a modest decline, leaving near-term listing gains uncertain.