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National Stock Exchange IPO Subscription

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Updated 24 September 2026, 9:15 AM IST· Mainboard

National Stock Exchange IPO subscription closed on 21 September 2026 at 5.71x overall by shares. QIB demand came in at 12.68x, NII at 6.55x, and retail at 1.39x. See Retail, SHNI, and BHNI allotment chances in the table…

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Allotment date is 22 September 2026. Listing date on NSE and BSE is 24 September 2026.

Issue Price
Rs 1,785.00
GMP Today
Rs 40.00 (+2.24%)
Overall Sub
5.71x
Issue Size
₹22,561.60 Cr
Allotment
22 Sept 2026
Listing
24 Sept 2026

National Stock Exchange IPO Day-wise Subscription

Daily QIB, NII, Retail, and overall subscription as bids come in

DayQIBNIIRetailOverall
Day 1 - 17 Sept 20260.19x0.72x0.44x0.43x
Day 2 - 18 Sept 20261.32x1.46x0.69x1.04x
Day 3 - 21 Sept 202612.68x6.55x1.39x5.71x

National Stock Exchange IPO Allotment Chances

Retail, SHNI, and BHNI chances based on application subscription

National Stock Exchange IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.

CategorySubscription (Apps)Allotment Chances
Retail0.62xVery high
SHNI (Rs 2L to Rs 10L)3.31x1 in 3
BHNI (above Rs 10L)1.30x1 in 1

Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.

Check the National Stock Exchange IPO Allotment Status page from 22 September 2026 for your result.

National Stock Exchange IPO Subscription by Amount

Category-wise subscription based on amount applied at issue price Rs 1,785.00

CategoryAmount OfferedAmount AppliedSubscription
QIBRs 4,499.60 CrRs 57,069.22 Cr12.68x
FII-Rs 25,046.97 Cr-
DFI-Rs 12,131.30 Cr-
Mutual Funds-Rs 9,654.14 Cr-
Other-Rs 10,236.81 Cr-
NIIRs 3,373.74 CrRs 22,089.45 Cr6.55x
bNII (above Rs 10L)Rs 2,249.16 CrRs 17,487.93 Cr7.78x
Corporate-Rs 1,439.25 Cr-
Individual-Rs 14,979.29 Cr-
Other-Rs 1,069.38 Cr-
sNII (Rs 2L to Rs 10L)Rs 1,124.58 CrRs 4,601.52 Cr4.09x
Corporate-Rs 44.29 Cr-
Individual-Rs 4,423.04 Cr-
Other-Rs 134.20 Cr-
RetailRs 7,872.05 CrRs 10,941.98 Cr1.39x
Cut-off price-Rs 9,587.45 Cr-
Fixed price-Rs 1,354.53 Cr-
EmployeeRs 77.37 CrRs 185.40 Cr2.40x
Cut-off price-Rs 142.02 Cr-
Fixed price-Rs 43.39 Cr-
TotalRs 15,822.76 CrRs 90,286.05 Cr5.71x

National Stock Exchange IPO Subscription by Applications

Category-wise subscription based on applications received

CategoryApplications OfferedApplications ReceivedSubscription
QIB2,52,07,8681,7130.00x
FII-103-
DFI-112-
Mutual Funds-205-
Other-1,293-
NII1,57,5043,09,9531.97x
bNII (above Rs 10L)1,05,0031,36,1591.30x
Corporate-2,556-
Individual-1,26,105-
Other-7,498-
sNII (Rs 2L to Rs 10L)52,5011,73,7943.31x
Corporate-1,270-
Individual-1,66,938-
Other-5,586-
Retail55,12,64134,00,3790.62x
Cut-off price-30,27,753-
Fixed price-3,72,626-
Employee54,18043,4310.80x
Cut-off price-36,476-
Fixed price-6,955-
Total3,09,32,19337,55,4760.12x

What Do These Subscription Numbers Mean?

5.71x overall by shares means bids covered about 6 times the shares on offer. Allotment chances depend on applications in each category.

QIB at 12.68x by shares shows institutional demand from mutual funds, FIIs, and banks.

NII covers bids above Rs 2 lakh (1.97x by applications). Split: SHNI 3.31x, BHNI 1.30x by applications. SHNI and BHNI allotment is by lottery.

null Retail allotment is also by lottery.

National Stock Exchange IPO GMP After Subscription

GMP for National Stock Exchange stands at Rs 40.00 today, giving an estimated listing price of Rs 1,825.00 per share.

The GMP has moved lower from Rs 285.00 on 4 Sept 2026 to Rs 40.00 on 24 Sept 2026.

A subscription of 5.71x combined with a GMP of 2.24% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.

Track live GMP on the National Stock Exchange IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.

National Stock Exchange IPO Key Dates

EventDate
IPO Open Date17 September 2026
IPO Close Date21 September 2026
Allotment Date22 September 2026
Refund Initiation23 September 2026
Share Credit to Demat23 September 2026
Listing Date24 September 2026
Minimum InvestmentRs 14,280.00
Lot Size8 shares

About National Stock Exchange

Incorporated in November 1992, the National Stock Exchange of India Limited (NSE) is India's premier market infrastructure institution (MII) and the world's largest derivatives exchange by contract trading volume for the seventh consecutive year. NSE operates a fully integrated platform providing trading, clearing, settlement, listing, market data, and licensing services across a multitude of asset classes, including cash equities, equity derivatives, currency derivatives, commodity derivatives, fixed-income securities, and mutual fund platforms. Supported by its core subsidiaries—such as NSE Clearing Limited (NCL), which provides central counterparty clearing and settlement guarantees, and NSE Data & Analytics—the exchange maintains state-of-the-art electronic order matching, low-latency colocation infrastructure, robust market surveillance, and proprietary benchmark indices including the flagship Nifty 50.

Understanding Subscription Categories

QIB - Qualified Institutional Buyers

Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.

NII - Non-Institutional Investors (SHNI & BHNI)

Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.

Retail - Retail Individual Investors

Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.

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National Stock Exchange IPO Subscription FAQs

What is National Stock Exchange IPO subscription status today?

National Stock Exchange IPO subscription closed on 21 September 2026 with overall subscription of 5.71x (by shares) as of 27 September 2026, 1:17 PM IST. QIB 12.68x, NII 1.97x, Retail 0.62x.

What is the overall subscription of National Stock Exchange IPO?

National Stock Exchange IPO is subscribed 5.71x overall by shares at close on 21 September 2026. QIB 12.68x, NII 1.97x, and Retail 0.62x.

What is National Stock Exchange IPO QIB subscription?

National Stock Exchange IPO QIB (Qualified Institutional Buyers) subscription is 12.68x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.

What is National Stock Exchange IPO Retail subscription?

National Stock Exchange IPO Retail subscription is 0.62x by applications. Retail bids are up to Rs 2 lakh per PAN.

What is National Stock Exchange IPO NII, SHNI, and BHNI subscription?

National Stock Exchange IPO NII subscription is 1.97x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 3.31x and BHNI (above Rs 10L) at 1.30x.

What are National Stock Exchange IPO retail allotment chances?

National Stock Exchange IPO retail share subscription is 1.39x. Application data is needed for exact lottery chances.

What are National Stock Exchange IPO SHNI allotment chances?

At 3.31x subscription by applications, about 1 in 3 SHNI applicants may get allotment (~30% chance per application). Allotment is by lottery. Share subscription was 4.09x. Allotment chances use applications, not share volume.

What are National Stock Exchange IPO BHNI allotment chances?

At 1.30x subscription by applications, about 1 in 1 BHNI applicants may get allotment (~77% chance per application). Allotment is by lottery. Share subscription was 7.78x. Allotment chances use applications, not share volume.

When is National Stock Exchange IPO allotment date?

National Stock Exchange IPO allotment date is 22 September 2026. Check National Stock Exchange IPO Allotment Status on IPOwiz from that day using your PAN.

When does National Stock Exchange IPO subscription close?

National Stock Exchange IPO subscription closed on 21 September 2026. No new applications are accepted after the close.

What is National Stock Exchange IPO GMP today?

National Stock Exchange IPO GMP is ₹40 today (+2.24% over issue price ₹1,785). See live GMP on the National Stock Exchange IPO GMP Today page.

What is National Stock Exchange IPO issue price and lot size?

National Stock Exchange IPO issue price is ₹1,785 per share. Lot size is 8 shares. Minimum investment is ₹14,280 per lot. Issue size: ₹22,561.60 Cr.

When is National Stock Exchange IPO listing date?

National Stock Exchange IPO listing date is 24 September 2026 on NSE and BSE. Allotment is on 22 September 2026.

How does subscription affect National Stock Exchange IPO allotment?

In National Stock Exchange IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. At 5.71x overall, competition is moderate.

For allotment results from 22 September 2026, visit the National Stock Exchange IPO Allotment Status page. For listing day updates on 24 September 2026, download the IPOwiz App.

Sources

We match National Stock Exchange IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • IPO RegistrarRegistrar details are on the allotment page for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.