Subscription of NSE IPO Crosses 50% Mark So Far on Day 2 of Bidding

Written by: Team Angel OneUpdated on: 18 Sept 2026, 7:45 pm IST

NSE IPO sees 0.90 times subscription by Day 2 with bidding still underway, with non-institutional investors at 1.17 times and retail at 0.60 times.

The National Stock Exchange (NSE) opened its initial public offering (IPO) for subscription on September 17, 2026, with a price band set between ₹1,700 and ₹1,785 per share.

The IPO, which will remain open until September 21, 2026, has already seen a subscription rate of 0.90 times by the second day of bidding.

Subscription Details of NSE IPO

As of 12:39 PM on September 18, 2026, the NSE IPO received bids for 7.95 crore shares against the 8.86 crore shares on offer. The IPO size stands at ₹22,561.57 crore.

The NSE IPO got subscribed 0.90 times.

The subscription rate for non-institutional investors was 1.17 times, while retail investors subscribed to 0.60 times.

Qualified institutional buyers showed a subscription rate of 1.20 times.

Consolidated NSE IPO Subscription & Bidding Details

Category / Detail	No. of Shares Offered / Reserved	No. of Shares Bid For	Day 1 Subscription (September 17, 2026)	Day 2 Subscription (September 18, 2026)
1. Qualified Institutional Buyers (QIBs)	2,52,07,867	3,02,56,968	0.19x	1.20x
↳ Foreign Institutional Investors (FIIs)	—	18,74,496	—	—
↳ Domestic Financial Institutions (Banks/FIs/Insurance)	—	2,54,86,448	—	—
↳ Mutual Funds	—	28,03,128	—	—
↳ Others	—	92,896	—	—
2. Non-Institutional Investors (NII)	1,89,00,483	2,20,72,416	0.72x	1.17x
↳ Big NII (Bid amount > ₹10 Lakh)	1,26,00,322	1,32,67,592	0.61x	1.05x
↳ Small NII (Bid amount ₹2 Lakh to ₹10 Lakh)	63,00,161	88,04,824	0.94x	1.40x
3. Retail Individual Investors (RIIs)	4,41,01,125	2,65,86,920	0.44x	0.60x
4. Employees (EMP)	4,33,436	5,45,160	0.97x	1.26x
Total	8,86,42,911	7,94,61,464	0.43x	0.90x

Note: In the above data for Day 2 is as of 12:39 PM on September 18, 2026.

Offer for Sale and Allocation of NSE IPO

The NSE IPO is a book-built issue valued at ₹22,561.57 crore, entirely structured as an offer for sale (OFS) of 12.64 crore shares. This means that the proceeds will not go to the exchange but to investors selling their stakes.

The allocation is divided with 50% reserved for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.

Important Dates and Lead Managers of NSE IPO

The allotment of shares for the NSE IPO is expected to be finalised on September 22, 2026, with the shares credited on September 23, 2026. The listing is scheduled for September 24, 2026.

The book-running lead managers for the IPO include Kotak Capital, JM Financial, Morgan Stanley India, Citigroup, HSBC Securities, JPMorgan India, SBI Capital, Anand Rathi Advisors, Avendus Capital, Axis Capital, DAM Capital, Equirus Capital, HDFC Bank, ICICI Securities, IDBI Capital, IIFL Capital, Motilal Oswal, Nuvama Wealth, Pantomath Capital, and 360 ONE WAM.

Conclusion

By the second day of bidding, the NSE IPO achieved a subscription rate of 0.90 times, with non-institutional investors at 1.17 times and retail investors at 0.60 times. The IPO size is ₹22,561.57 crore, with shares expected to be allotted on September 22, 2026.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Sep 18, 2026, 2:15 PM IST

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