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NSE IPO Review National Stock Exchange of India

NSE (National Stock Exchange of India) IPO has been reviewed by 26 analysts, and the overall consensus is Strong Apply — carrying a score of 95. Out of the 26 analysts who have covered this IPO, 22 recommend subscribing while 4 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹1700-1785 per share, with a minimum application size of 8 shares (minimum investment of approximately ₹14,280 at the upper band). Subscription ran from 17 Sep 2026 to 21 Sep 2026. The issue size is ₹22,562 crore, entirely an offer for sale — the company receives none of the proceeds. As of now, the grey market premium (GMP) for NSE IPO is quoting at ₹39 (2.18%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
95/ 100
Strong Apply 22 of 26 recommend subscribing
How analysts voted
Apply 22
May apply 2
Neutral 2
Not rated 6

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

The National Stock Exchange is India's largest exchange, holding 92.99 percent of cash market turnover and 99.79 percent of equity derivatives, and has been the world's largest derivatives exchange by contracts traded for seven years. FY26 profit was ₹10,302.06 crore. Twenty of the twenty-nine analysts covering it said subscribe, two stayed neutral, one advised caution and six gave no rating.

Listing gains

Most notes cluster the valuation near 42 to 43 times FY26 earnings, with the full range running 35.4 to 47.3 times depending on the earnings basis used. Analysts repeatedly set that against BSE at about 54 times. With twenty subscribe ratings and not one avoid, the coverage pointed to a positive listing.

Short-term strategy

FY26 was softer. Profit fell from ₹12,187.69 crore to ₹10,302.06 crore and return on equity from 44.87 to 32.98 percent, which the notes attribute to regulatory measures on options trading and calmer volumes. Transaction charges give 78.65 percent of revenue, so near-term earnings track derivatives activity closely. The issue is entirely an offer for sale.

Long-term strategy

Analysts describe a self-reinforcing franchise: a vertically integrated ecosystem across trading, clearing, indices and data, with rising retail participation and newer avenues in GIFT City and data monetisation. The neutral notes counter that earnings growth has been modest against global exchanges while the valuation carries a premium, leaving limited room for disappointment.

How this is written: an AI-assisted summary of the 32 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for NSE IPO?

The analyst consensus for NSE IPO tracked on this page is Strong Apply, with a score of 95/100. Out of 26 analysts who have reviewed this IPO, 22 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 95 mean for NSE IPO?

The score of 95 is an aggregate of all analyst ratings tracked for NSE IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of NSE IPO?

NSE IPO listed on September 24, 2026 at ₹1800, against the issue price of ₹1785 — a gain of +0.84% (₹15 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of NSE IPO?

NSE IPO was priced at ₹1700-1785 per share. The minimum lot size is 8 shares, making the minimum investment approximately ₹14,280 at the upper end of the price band. Subscription ran from 17 Sep 2026 to 21 Sep 2026.

Explore NSE IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

NSE IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Strong Apply
Score
95 / 100
Listed at
₹1800
Full IPO details