NSE IPO Details: NSE IPO to Open on September 17 With Price Band Set at Rs 1,700 to Rs 1,785

NSE IPO Details: The National Stock Exchange IPO is finally set to hit the market, giving investors a chance to participate in one of the most anticipated public issues in India.

The NSE IPO will open for subscription on September 17 and remain available until September 21. The company has fixed the price band at Rs 1,700 to Rs 1,785 per share, while the face value of each share is Rs 1.

For retail investors, one lot will consist of eight shares. At the upper end of the price band, an investor would need Rs 14,280 to apply for one lot.

The share allotment is scheduled for September 22, followed by credit of the shares into demat accounts on September 23. The NSE shares are expected to be listed on September 24.

At the upper price band, the IPO is expected to be valued at around Rs 22,561.57 crore. If the issue reaches this size, it would rank as the second largest IPO in India.

Retail investors have been allocated 35 percent of the shares offered in the issue. Qualified institutional buyers will have 50 percent reserved for them, while the remaining portion will be available to non institutional investors.

Eligible NSE employees will also receive a discount of Rs 170 per share. This could provide an additional benefit for employees participating in the public issue.

The IPO will be entirely an offer for sale. A total of 12.64 crore equity shares will be sold by existing shareholders, meaning the proceeds will go to the selling shareholders rather than being raised as fresh capital by NSE.

Several major institutions are expected to sell their holdings through the offer. These include State Bank of India, Bank of Baroda, General Insurance Corporation of India and Canada Pension Plan Investment Board.

State Bank of India alone plans to sell around 2.48 crore shares as part of the issue.

The issue size has also been reduced from the earlier plan. NSE had previously proposed selling around 14.89 crore equity shares, but the offer has now been cut by about 15 percent.

The public issue has taken much longer than initially expected. The NSE IPO was originally expected to come to the market nearly a decade ago, but regulatory and legal issues, including the co location controversy, delayed the process.

The exchange recently received approval from the Securities and Exchange Board of India to proceed with the IPO. With the dates and price band now announced, investor attention is expected to remain high as the subscription window approaches.