NSE IPO: Dates, Price Band, Lot Size and How to Apply

The National Stock Exchange (NSE) IPO opens for public bids on Thursday, 17 September 2026 and closes on Monday, 21 September 2026. The price band is ₹1,700 to ₹1,785 a share, and one lot is 8 shares. The shares will list on BSE, not on NSE itself, with trading due to start on or about 24 September.

Key facts

The dates after 21 September are indicative dates from the red herring prospectus (RHP) and can move.

How the NSE IPO reached this stage

NSE has no identifiable promoter, so no promoter shares are locked in for 18 months. The sellers include State Bank of India (up to 1,59,69,410 shares), Canada Pension Plan Investment Board, Aranda Investments, MS Strategic (Mauritius), New India Assurance, SBI Capital Markets, Bank of Baroda, Stock Holding Corporation of India, General Insurance Corporation of India and United India Insurance, among others.

Because the whole issue is an offer for sale, the money goes to these shareholders. NSE issues no new shares.

How to apply for the NSE IPO

You need a demat account, a trading account or bank that offers ASBA, and a UPI ID linked to your bank account if you bid through a broker app.

1. Log in to your broker’s app or your bank’s net banking between 17 and 21 September.
2. Open the IPO section and select National Stock Exchange of India Limited.
3. Choose your category: retail individual, or employee if you are an eligible NSE employee.
4. Enter the number of lots. Retail bids can be made at the cut-off price.
5. Enter your UPI ID and submit the bid.
6. Approve the mandate in your UPI app before 5 pm on 21 September. The amount stays blocked in your account until allotment.

A retail individual can bid up to ₹2 lakh. At ₹1,785 a share that allows 14 lots, or 112 shares, for ₹1,99,920. Bids above ₹2 lakh count as non-institutional bids.

Our step-by-step guide on how to apply for an IPO covers the UPI and ASBA routes in more detail.

Allotment, listing and refunds

Retail demand above the shares on offer means a lottery. Each successful retail applicant gets at least one lot, subject to availability, and the rest is allotted proportionately. You can check your result on the registrar’s site or BSE once the basis of allotment is final. See our guide to IPO allotment status.

If you do not get shares, the blocked money is released. The RHP says bidders are compensated at ₹100 a day, or 15% a year of the bid amount, whichever is higher, for certain delays in unblocking beyond the set period.

NSE unlisted shares before the IPO

NSE shares have changed hands for years in the unlisted market, through dealers who arrange off-market transfers between demat accounts. Those prices are private deals, not exchange prices, and they are not the IPO price.

If you already hold NSE shares bought this way, the IPO changes one thing. Under Regulation 17 of the SEBI ICDR Regulations, the entire pre-offer share capital is locked in for 6 months from the date of allotment. Shares sold in the offer for sale, and shares held by certain registered funds, are exempt. You cannot sell pre-IPO shares on BSE until the lock-in ends, around March 2027 if allotment happens on 22 September.

Anchor investors face a separate lock-in: 50% of their shares for 90 days and 50% for 30 days.

Where to track official updates

• NSE’s investor relations page carries the DRHP, RHP and later documents.
• SEBI’s public issues page lists the RHP and abridged prospectus.
• BSE’s public issues page shows live bid data during the offer.
• The registrar, MUFG Intime, publishes allotment status after the basis of allotment.

For other issues in the pipeline, see our IPO calendar. This page gives information, not a recommendation; read the risk factors in the RHP before you bid.

Frequently asked questions

What is the NSE IPO date?

Bidding runs from 17 to 21 September 2026. Anchor investors bid on 16 September.

What is the NSE IPO price band and lot size?

₹1,700 to ₹1,785 a share, with a lot of 8 shares. One lot costs ₹14,280 at the upper end.

Where will NSE shares be listed?

On BSE. BSE is also the designated stock exchange for the offer, and trading is expected to start on or about 24 September 2026.

Does NSE get money from the IPO?

No. The issue is entirely an offer for sale, so the proceeds go to the selling shareholders.

How many NSE IPO lots can a retail investor apply for?

Up to 14 lots, or 112 shares, which keeps the bid under the ₹2 lakh retail limit at ₹1,785 a share.

Can I sell NSE unlisted shares on listing day?

No. Pre-offer shares are locked in for 6 months from allotment, except those sold in the offer and some held by registered funds.

When will NSE IPO allotment be announced?

The RHP gives 22 September 2026 as the indicative date for finalising the basis of allotment.

Sources

• National Stock Exchange of India Limited — RHP filing — SEBI (checked 16 Sep 2026)
• Abridged prospectus, National Stock Exchange of India Limited — SEBI (checked 16 Sep 2026)
• Public issues listing — BSE (checked 16 Sep 2026)
• Offer documents — NSE investor relations (checked 16 Sep 2026)
• NSE IPO details: lot size and retail bid limits — Kotak Neo (checked 16 Sep 2026)
• NSE IPO price band set at ₹1,700-₹1,785 — IIFL (checked 16 Sep 2026)
• NSE IPO: SEBI observation letter — Precize (checked 16 Sep 2026)