India’s National Stock Exchange (NSE) is set to enter the public markets, with its much-anticipated initial public offering (IPO) now available for pre-application.
The IPO has a price band of ₹1,700 to ₹1,785 per share, with a minimum lot size of eight shares. At the upper end of the price band, investors would need to commit around ₹14,280 for one lot. The issue is valued at approximately ₹22,568.94 crore.
Why the NSE IPO matters
NSE is one of the world’s largest exchanges by derivatives trading volumes and plays a central role in India’s rapidly expanding capital markets.
According to the figures provided, the exchange accounted for around 93% of India’s cash-market turnover in FY26. It had 13.2 crore unique registered investors as of June 2026, highlighting the growing participation of retail investors in Indian markets.
NSE also reported a 51.18% share of global equity-derivatives contracts traded in FY26, making it the world’s largest exchange by this measure.
The exchange reported ₹10,302 crore in FY26 profitability, with its business described as debt-free.
How investors can apply
Retail investors can submit IPO applications through UPI, with bids of up to ₹5 lakh eligible for the UPI payment route, subject to applicable IPO rules.
Investors seeking to bid for more than ₹10 lakh can use the ASBA facility through their bank.
The IPO can also be pre-applied for through Kotak Neo, allowing investors to submit their application before the issue opens and potentially avoid the rush on the first day.
Investors can monitor subscription levels and demand during the issue period through their broker’s platform.
With its dominant position in India’s equity and derivatives markets, the NSE IPO is expected to attract considerable attention from both retail and institutional investors.
However, investors should assess the company’s valuation, financial performance and the risks associated with investing in equities before making an application.
