Price Range and GMP Announced for NSE IPO: Share Sale to Take Place on September 17

According to sources familiar with the situation, the much-awaited Initial Public Offering (IPO) of the National Stock Exchange (NSE) is expected to be priced around ₹1700–₹1800 per share.

Sources added that the size of the Offer for Sale (OFS) may be reduced from the initially planned 6 percent to 5.25 percent, which will lead to a lower overall offering volume compared to the previously projected ₹30,000 crore.

The pricing for the exchange's IPO, which will consist solely of OFS, is expected to be announced next week, and the offering itself is likely to commence later in the same week. Shares may be listed on BSE on September 25.

In the over-the-counter market, NSE shares were trading at approximately ₹2025 per unit, according to UnlistedZone data. As of Wednesday, the premium in the grey market was about ₹228.

The exchange plans to file an updated draft prospectus early next week. Sources also noted that the expected price range reflects the reaction of institutional investors during the roadshow.

One source stated that a more attractive offer was made regarding the pricing for small investors participating in the OFS.

The exchange filed its preliminary documents with the Securities and Exchange Board of India (Sebi) in June and received regulatory approval for the Draft Red Herring Prospectus (DRHP) on September 4. Earlier this month, the Supreme Court allowed Sebi appeals regarding joint listing and dark fiber following a settlement in which NSE paid approximately ₹1,491.21 crore.

A source familiar with the developments explained the reduction in offering volume by stating that some shareholders do not wish to sell now under OFS, as they believe they can achieve a higher price after listing.

Significant information has emerged regarding the Initial Public Offering (IPO) of the National Stock Exchange (NSE). According to sources, this IPO is expected to raise approximately 30,000 crore rupees and may commence on September 18th, with the stock listing scheduled for September 25th.

If the offering size reaches approximately 30,000 crore rupees, it could become the largest IPO in Indian history. However, official confirmation of these dates from the NSE has not yet been received, and the full IPO schedule has not been announced.

Sources suggest that the IPO price band might be announced on September 15th. Following this, the book-building process for anchor investors is expected to open on September 17th. Subsequently, the public subscription may open from September 18th to September 22nd, allowing investors to apply on September 18th, 21st, and 22nd.

The projected size of the NSE IPO is around 30,000 crore rupees. If this size is maintained, it will surpass the Hyundai Motor India IPO held in 2024, which raised 27,870 crore rupees, potentially making it the largest IPO in India. Due to this large volume, increased interest is anticipated from both domestic and foreign investors.

It is expected that the NSE IPO will be structured entirely as an Offer For Sale (OFS). This means the company itself will not issue new shares; instead, existing shareholders will sell a portion of their stake. Under the OFS, approximately 14.89 million equity shares with a face value of 1 rupee may be offered, constituting about 6% of NSE's paid-up capital.

Since the IPO will be conducted entirely through the OFS mechanism, no new shares will be issued, and the IPO proceeds will not go directly to the NSE. These funds will be received by the existing shareholders selling their stake. Reports also indicate that Bank of Baroda may sell its stake in the NSE IPO. The bank is expected to sell about 7.69 million NSE shares it holds under the OFS. According to reports, Bank of Baroda might realize about 35% of its stake in NSE, although the final number of shares and the stake will only be confirmed by official documents.

Considering the current probable timeline, the following dates may be significant for investors: September 15th—possible announcement of the price band; September 17th—possible opening of the book for anchor investors; September 18th, 21st, and 22nd—possible subscription dates; and September 25th—possible stock listing.

Nevertheless, investors should remember that all these dates are tentative. Final timelines will only become clear after the official schedule is published by the NSE. A clearer picture of the offer valuation, share volume, and the actual situation for investors can be seen after the price band and related IPO documents are released.

The IPO market is experiencing a boom this year due to the release of numerous offerings, many of which have proven profitable for investors. A new stream of IPOs is emerging, some of which are already signaling significant profits even before listing and are actively discussed in the grey market.

One such IPO is Kanohar Electricals, scheduled to open on September 8th. Despite not yet being listed, its GMP has already surpassed the 200 rupee mark.

Over the week starting Monday, investors will have the opportunity to participate in 12 IPOs, all of which are retail investor offerings. Six of these offerings will open on the same day. One offering will be released on September 7th, three IPOs will open on September 8th, and six IPOs are planned for September 9th. On September 10th and 11th, one company's IPO is expected.

This refers to the Kanohar Electricals IPO, which will open to retail investors on Tuesday, September. The company manufactures transformers and operates in various sectors, including Railways and the renewable energy sector. Established in 1972, the company has demonstrated strong potential in the grey market even before the official launch.

For those planning to invest in the IPO, it is important to know the details of this offering. The size of the Kanohar Electricals IPO is 1055.74 crore rupees. Through this offering, the company will issue new shares worth 300 crore rupees, while the remaining amount of 755.74 crore rupees will be sold through an Offer For Sale (OFS).

The IPO Price Band set by the company is in the range of 601–632 rupees.

A lot of 23 shares is set for the Kanohar Electricals IPO. Calculating based on the upper limit of the price band, investors need to apply for a minimum number of shares equivalent to an investment of at least 14,536 rupees. Share allotment will take place on September 11th after the application closure on September 10th. The process of crediting shares and refunding money will be completed on September 15th, and the listing on BSE-NSE will occur on September 16th.

Even before the opening, the Kanohar Electricals IPO shows signs of high returns for its investors. Its grey market premium is currently around 33 percent. According to these calculations, each share shows a potential profit of over 200 rupees. If the shares trade at this projected GMP, an investor investing 14,536 rupees could earn a profit of about 4,800 rupees. Considering the maximum volume of 13 lots, an investment of 188,968 rupees for 299 shares could grow to 250,263 rupees, yielding a profit of 61,295 rupees.