Investors in the National Stock Exchange of India (NSE) IPO could see the much-awaited allotment status today. After the issue was subscribed 5.71 times overall, investors are now awaiting the basis of allotment and looking ahead to the company's stock-market debut.

The Rs 22,569-crore NSE IPO is expected to finalise its allotment today, allowing investors to check online whether they have been allotted shares. The company's shares are scheduled to make their debut on the BSE on September 24, 2026.

Adding to investor interest, the IPO's grey market premium (GMP) is currently around 4%, indicating market expectations of a modest listing gain. However, GMP trends are unofficial and can change before the listing.

Read more: NSE IPO Tracker: Catch all the highlights here

The IPO opened on September 17, 2026, and closed on September 21, 2026, with the issue subscribed 5.71 times overall. The retail portion was subscribed 1.39 times, while the non-institutional investor (NII) category was subscribed 6.55 times and the qualified institutional buyer (QIB) portion was subscribed 12.68 times.

The Rs 22,569-crore issue is entirely an offer for sale (OFS) of 12.64 crore shares. NSE will not receive any proceeds from the IPO, as the money will go to the selling shareholders. The price band has been fixed at Rs 1,700–1,785 per share, with a lot size of eight shares. The issue is expected to list on the BSE on September 24.

Kotak Mahindra Capital Company Ltd., Morgan Stanley India Company Pvt. Ltd. and HSBC Securities & Capital Markets (India) Pvt. Ltd. are the book-running lead managers, while MUFG Intime India Pvt. Ltd. is the registrar to the issue.

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Investors can verify their allotment through either of the following platforms:

Visit the MUFG Intime India IPO allotment page (https://in.mpms.mufg.com/Initial_Offer/public-issues.html)

Select National Stock Exchange of India from the drop-down menu.

Enter your PAN, application number, or DP/Client ID.

Click Submit to view your allotment status.

2.BSE Website ( https://www.bseindia.com/investors/appli_check)

Select Equity under issue type.

Select National Stock Exchange of India from the dropdown.

Enter your application number OR PAN number.

And fill the captcha and click search to view allotment.

The NSE IPO’s grey market premium (GMP) is currently around Rs 65, or 4%, over the upper price band of Rs 1,785. This puts the estimated listing price at around Rs 1,850 per share, suggesting expectations of a moderate listing gain.

Read more: A record run! NSE IPO draws Rs 90,000 crore demand, takes subscription crown among India’s 5 largest offerings

NSE is India’s largest stock exchange and runs a vertically integrated platform across trading, clearing, listing, data services and index licensing. Its products span cash market, futures, options, mutual funds, commodity derivatives, currency derivatives, wholesale debt market and interest rate futures.

The exchange has held the top position in India by cash market turnover and equity derivatives turnover from FY01 to FY26. As of June 2026, NSE supported 132.4 million unique registered investors, 1,328 trading members and 3,005 listed entities with market capitalisation of about Rs 474.1 trillion.

NSE's biggest strength is its near-dominant market position. Its market share stood at about 93% in the cash market, 99.7% in equity futures and 68.5% in equity options by premium turnover as of June 2026.

YES Securities said almost all of India’s listed equity trading risk flows through one platform. It said NSE’s advantage is not just pricing, but a liquidity cycle where orders go where spreads are tight, companies list where trading activity exists, and deeper markets attract more participants.

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NSE reported revenue from operations of Rs 16,601 crore in FY26, down 3.1% from Rs 17,141 crore in FY25. Profit after tax fell to Rs 10,302 crore from Rs 12,188 crore. In Q1, revenue stood at Rs 4,560 crore, while PAT came in at Rs 3,120 crore.

Despite the fall in FY26 profit, margins remain strong. SBI Securities pegged NSE’s EBITDA margin at 67.6% in FY26 and 77.9% in Q1. PAT margin stood at 62.1% in FY26 and 68.4% in Q1.

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