The NSE anchor lock-in ends on 22 October 2026, when half of the shares held by its 189 anchor investors become free to trade. The anchors put in ₹6,746.22 crore at the issue price of ₹1,785, and the stock was at ₹1,726.55 in our records.
What unlocks on 22 October?
Anchor investors are large institutions that buy at the issue price a few days before an IPO opens. Their shares are locked in for 30 days for half the holding and 90 days for the rest. NSE's allotment was on 22 September, so the first 30-day period ends on 22 October.
| Item | Figure |
|---|---|
| Anchor investors | 189 |
| Anchor amount | ₹6,746.22 crore |
| Anchor price | ₹1,785 (issue price) |
| Unlocks on 22 October | 50% of anchor shares |
| Remaining 50% unlocks | 90 days after allotment, in December 2026 |
| Latest price in our records | ₹1,726.55 |
The share count is our arithmetic. ₹6,746.22 crore divided by ₹1,785 is about 3.78 crore shares, so half is about 1.89 crore shares.
How big is the anchor book?
The issue was ₹22,561.57 crore, all of it an offer for sale, so the anchor portion is about 30% of it. The 189 anchors are more than the other lock-ins ending this week put together. As we covered in our weekly lock-in calendar, Hero Motors, SS Retail, Caliber Mining and Varmora Granito have 73 anchors between them.
Where is the price against the anchor price?
The anchors paid ₹1,785. At ₹1,726.55, the stock is 3.27% below that. The shares listed at ₹1,800 on 24 September, 0.84% above the issue price. The grey market's last quote before listing was ₹39, or 2.18%.
What our data shows
At ₹22,561.57 crore, NSE is the largest of 105 mainboard IPOs closed in 2026. Its 5.71x subscription ranks 67th of 105, against a median of 24.96x, and the 0.84% opening gain ranks 65th of 100 listings. Across the year, 66 of 100 mainboard IPOs opened above the issue price, with a median gain of 6.92%.
Free to trade does not mean the anchors will sell. It only means they can. Some hold for months, and some sell soon after a lock-in ends. The date tells you when the shares can reach the market, nothing more.
What happens next
The first half unlocks on 22 October. The second half follows 90 days after allotment, in December 2026. You can compare NSE's listing with every other debut on the IPO performance page, and its issue details are on the NSE IPO page.
