{
  "id": 8885599,
  "title": "NSE IPO Day 3 Sees Retail Book Fully Subscribed, Grey Market Premium Slips To Rs 59 Ahead Of Bidding Deadline",
  "url": "https://urgent.news/2026/09/21/nse-ipo-day-3-sees-retail-book-fully-subscribed-grey-market-premium",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T07:46:45.000Z",
  "source": {
    "name": "Free Press Journal",
    "slug": "free-press-journal",
    "url": "https://www.freepressjournal.in/business/nse-ipo-day-3-sees-retail-book-fully-subscribed-grey-market-premium-slips-to-rs-59-ahead-of-bidding-deadline"
  },
  "original_language": "en",
  "account": "Mumbai: The National Stock Exchange's Rs 22,569-crore IPO concluded its third and final bidding day with the retail book fully subscribed and overall demand remaining strong. By the third day, investors had placed bids for 20.70 crore shares, surpassing the 8.86 crore shares available and pushing the overall subscription to 2.34 times. Institutional investors led the demand, with their portion subscribed 3.72 times, while non-institutional investors bid for 3.60 times the shares allotted to them. The retail category was subscribed to 1.01 times. The IPO achieved full retail subscription on Day 2, reflecting ongoing investor enthusiasm for India's leading stock exchange. Grey Market Premium Declines NSE shares traded at a grey market premium of around Rs 59 on the third day, suggesting a potential listing gain of approximately 3.3% over the upper price-band level of Rs 1,785. However, these grey market premiums are unofficial and highly volatile, offering no assurance of the actual listing price. IPO Details and Investment The price band for the IPO is fixed at Rs 1,700 to Rs 1,785 per share, with one lot consisting of eight shares and a minimum retail investment of Rs 14,280 at the upper price point. NSE's IPO is projected to achieve a market capitalisation of around Rs 4.41 lakh crore, making it India's second-largest IPO and the largest public issue of 2026. The offering is entirely an offer-for-sale, meaning NSE itself will not receive any proceeds. Notable selling shareholders include SBI, the Canada Pension Plan Investment Board, and various public-sector insurers. IPO Size Adjusted The IPO size was reduced to Rs 22,567 crore following strong initial demand. The allotment process is expected on September 22, followed by share credit to successful investors' demat accounts on September 23. Investors must confirm their UPI mandates before the deadline to ensure their applications remain valid.",
  "summary": "Mumbai: The Rs 22,569-crore initial public offering of the National Stock Exchange entered its third and final bidding day with the retail book fully subscribed and the overall issue witnessing firm demand. By Day 3, investors had bid for 20.70 crore shares against 8.86 crore shares available, taking overall subscription to 2.34 times. Institutional Investors Lead Demand The qualified…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}