On September 18, the National Stock Exchange’s ₹22,569‑crore IPO closed fully subscribed, after just 43% uptake on day one.
Institutional bids topped 1.32× the issue size, NII bids reached 1.33×, while retail investors captured only 0.65× of their allotment, covering a minimum ₹14,280 per eight‑share lot.
The offering is the second‑largest in India’s history and the biggest of 2026, priced between ₹1,700 and ₹1,785 per share. Analysts largely recommend ‘subscribe’ despite a 35% retail allocation.
GMP rates currently trade 130–140 rupees above the issue price, hinting at a post‑listing premium, though the final listing price will be set on 21 September.
BSE and NSE will list on Monday; investors eye a potential upside if the price climbs to the upper band. The IPO’s full subscription signals strong demand ahead of the 2026 market rebound.