Shares of companies selling stakes in the NSE IPO witnessed significant gains on Thursday, September 17, as the National Stock Exchange's initial public offering opened for public subscription. According to market reports, New India Assurance led the surge with a 9.2% increase, followed by IFCI at 7.8% and General Insurance Corporation at 2.6%. The positive market reaction came as investors focused on potential gains from the NSE IPO listing, with the offering scheduled to close on September 21, 2026. As per latest reports, NIACL shares recorded the sharpest gains among the lot, surging more than 9% to trade at ₹201.24 apiece, while GIC shares jumped nearly 3% to trade at around ₹347 apiece. The broader market also showed positive momentum, with Steamhouse India shares opening at a premium of 16.66% on NSE at ₹94.50 and 14.81% on BSE at ₹93 following its successful market debut after a 30.49 times oversubscribed IPO. Steamhouse India's market valuation stood at ₹2,689.71 crore on its debut, demonstrating strong investor confidence in industrial gas sector companies.
The NSE IPO has entered the ranks of India's largest IPOs, raising ₹6,746.18 crore from 189 anchor investors ahead of its public launch, making it the second-highest in the historical anchor investor comparison. As reported by The Economic Times, LIC emerged as one of the key investors with ₹400.30 crore investment, receiving 2,242,584 shares at ₹1,785 per share. The anchor book also attracted global institutional participation, including Morgan Stanley Asia Singapore Pte. and Goldman Sachs Asset Management among other prominent investors. Of the total 3,77,93,739 equity shares allocated to anchor investors, 13,977,524 shares (36.98%) were allotted to 29 domestic mutual funds through 98 schemes. Life insurance companies and pension funds accounted for a further 16.04% of the total anchor allocation, reflecting strong institutional interest in the exchange's listing. According to the latest reports, LIC leads NSE's heavyweight shareholder base with a 10.72% stake, followed by a mix of domestic and global institutional investors.
The NSE IPO demonstrated strong early investor interest on its first day of bidding. As reported by BSE IPO data, the issue witnessed 42% subscription on Day 1, with investors bidding for 2,68,94,832 equity shares out of the total 8,86,42,911 equity shares on offer after the anchor round. The subscription breakdown showed non-institutional investors leading at 48%, followed by retail investors at 34% and qualified institutional buyers at 18%. The offering is priced in the ₹1,700 to ₹1,785 per share range with a lot size of 8 equity shares. According to latest reports, NSE announced that it raised ₹6,746.18 crore from more than 150 anchor investors a day before the IPO opened for public bidding. As of 2:15 pm on Day 1, the issue had been subscribed 42% overall, with the retail individual investor portion at 34% and non-institutional investor portion at 48%.
Ten shareholders are selling their stakes in National Stock Exchange of India Ltd via the offer-for-sale (OFS) issue, with the remaining names including National Insurance Co., United India Insurance, MS Strategic Mauritius, Canada Pension Plan Investment Board, and Aranda Investments Mauritius. According to the filing data, State Bank of India is selling up to 15,969,410 equity shares at a weighted average selling price of ₹0.80 per share, while New India Assurance is offering 1,05,00,000 shares at an average selling price of ₹0.32 per share. IFCI, as a majority shareholder in Stock Holding Corporation of India Ltd, is selling 6,187,500 shares at a weighted average selling price of ₹0.46 per share. General Insurance Corporation of India is selling around 61.88 lakh shares as part of the OFS component, holding a nearly 2% stake in NSE ahead of the IPO. LIC leads NSE's shareholder list with a 10.72% stake, followed by a mix of domestic and global institutional investors, with the top 20 shareholders collectively holding 130.59 crore shares representing 52.76% of the pre-offer equity share capital.
The NSE IPO represents a unique structure as an entirely OFS issue where proceeds will go directly to corporate stakeholders and the company will not receive any funds from the public listing. As reported by the exchange, NSE is looking to raise more than ₹22,561.57 crore by offloading 12.64 crore equity shares held by corporate stakeholders. The shares are expected to be allotted to investors on September 22, 2026, with listing on the Bombay Stock Exchange scheduled for September 24, 2026. The company has reserved 50% for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail bidders. At the upper price band of ₹1,785, NSE is valued at a post-issue P/E of 35.4x, compared with BSE's P/E of 54.2x, making the issue attractive relative to its key listed peer. Retail investors will need to invest a minimum of ₹14,280 for one lot at the upper price band. LIC tops NSE's shareholder list with a 10.72% stake, followed by a mix of domestic and global institutional investors, with the top 20 shareholders collectively holding 130.59 crore shares representing 52.76% of the pre-offer equity share capital.
