NSE IPO: Should You Subscribe To The Issue? Here's What Brokerages Advise

The initial public offering (IPO) of the National Stock Exchange of India (NSE) has been receiving decent demand from investors on Thursday, its first day of the bidding process.

NSE IPO commenced on September 17 and will conclude on September 21. The IPO price band has been set at Rs 1,700 to Rs 1,785 per share, and the IPO lot size is 8 shares. 

The Rs 22,568.94 crore worth NSE IPO is entirely an offer for sale (OFS) of 12.64 crore equity shares by existing shareholders, with no fresh issue of shares.

Ahead of its IPO opening, the exchange has already raised Rs 6,746.18 crore from anchor investors on September 16. NSE allotted 3.78 crore equity shares to anchor investors at Rs 1,785 per share.

ALSO READ: NSE IPO Day 1: Issue Subscribed 26%, Check Price Band, GMP, Other Key Details

NSE IPO has been receiving decent response from investors. Here a look at NSE IPO subscription status, GMP and what analysts recommend.

NSE IPO Subscription

NSE IPO was subscribed by 27% so far, according to the data on BSE till 12:50 PM on September 17, the first day of the bidding process.

The public issue was booked 30% in the Retail Individual Investors category, and 39% in the Non-Institutional Investors (NII) segment. The Qualified Institutional Buyers (QIB) category received 11% subscription so far.

NSE IPO GMP Today

NSE IPO GMP today is Rs 125 per share, according to the websites trading grey market. This indicates that in the grey market, NSE shares are trading higher by Rs 125 apiece than their IPO price.

NSE IPO GMP today signals a listing at Rs 1,910 apiece, which is at a premium of 7.00% to the issue price of Rs 1,785 per share.

Should You Subscribe To NSE IPO?

At the upper price band of Rs 1,785, NSE is valued at P/E of ~42x on FY26 Adj. EPS on a post-issue basis, which is lower compared to its peer BSE, according to Geojit Financial Services.

“The company benefits from its dominant position across India's equity and derivatives markets, supported by strong network effects, a vast investor ecosystem, and scalable technology infrastructure. Its asset-light business model enables consistently high margins and cash generation, while growing capital market participation and increasing financialization provide a strong long-term growth runway,” said the brokerage firm. 

It assigns a “Subscribe” rating to NSE IPO for medium to long-term investors.

ALSO READ: NSE IPO: GMP, Price Band, Valuation, Risks, Review — 5 Key Details As Issue Opens

Master Capital Services said that NSE is well positioned to benefit from the growth opportunities in the favourable industry environment, supported by its leadership across key asset classes, with strong market shares in cash market, equity futures, equity options and currency derivatives. 

“Its scalable and resilient technology infrastructure, extensive investor base, strong market infrastructure and continued introduction of new products further strengthen its competitive position and support long-term growth,” said Master Capital Services.

It advises investors to consider the NSE IPO as a potential long-term investment opportunity.

Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.

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