NSE IPO Day 3: Final Chance To Subscribe As GMP Slips to 3.75%; Check Expected Listing Price

Today is the last day to invest in the NSE IPO, which has now entered its final day of bidding. In the last two days, the NSE IPO has received a modest response as compared to the buzz that it was creating.

Even in the grey market the demand for the IPO is subdued, which can be seen in the GMP numbers, which have dropped significantly from their highest of 12% to 3.75% currently.

NSE IPO Subscription Status Day 3

So far on the third day, the NSE IPO has been subscribed 2.65 times overall; in the retail category, it was subscribed 1.04 times, and QIB & the NII subscribed 4.33 times and 4.15 times, respectively, as per BSE data.

NSE IPO GMP

If we look at the trends in the grey market, the IPO has been performing very mediocrely. When the IPO was launched, the issue was trading with a 12.21% premium. However, the trend slipped, and it was trading at as low as a 2.69% premium as of this September.

The current IPO GMP is Rs. 67, the estimated listing price is Rs. 1852, and the expected profit for the investor is 3.75%.

NSE IPO Details

NSE IPO is a book-built issue worth Rs. 22,561.57 crore and is a complete offer for sale of 12.64 crore shares. The issue does not include a fresh share offering.

The IPO has a price band of Rs. 1,700 to Rs. 1,785 per share, with a lot size of eight shares. Retail investors applying at the upper end of the price band will need a minimum investment of Rs. 14,280.

The basis of allotment is expected to be finalised on September 22, while the shares are tentatively scheduled to list on the BSE on September 24.

Should You Subscribe?

The NSE IPO has mostly received positive reviews from brokerage firms, citing the company's potential.

According to Geojit Financial Services, "At the upper price band of ₹1,785, NSE is valued at a P/E of ~42x on FY26 Adj. EPS on a post-issue basis, which is lower compared to its peers. The company benefits from its dominant position across India's equity and derivatives markets, supported by strong network effects, a vast investor ecosystem, and scalable technology infrastructure. Its asset-light business model enables consistently high margins and cash generation, while growing capital market participation and increasing financialization provide a strong long-term growth runway. Hence, we assign a "SUBSCRIBE" rating for medium- to long-term investors."

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