NSE IPO is a Mainboard issue open from 18-22 Sept.
NSE IPO Analysis
Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.
Funds blocked after close
~3 days
from the closing date to listing
Revenue growth
-2.4%
31 Mar 2025 → 31 Mar 2026
Profit growth
-15.5%
PAT ₹12187.69 Cr → ₹10302.06 Cr
Net profit margin
55.1%
was 63.6% in 31 Mar 2025
Return on equity
32.98%
ROE
For NSE, bidding runs 18-22 Sept, allotment is finalised on 23 Sep 2026, the shares list on 25 Sep 2026. Applications that do not receive an allotment have their UPI mandate released around 1 day after the issue closes. Counting from the close of bidding, money stays blocked for roughly 3 days before listing decides what the holding is worth.
The issue is reserved 50% to qualified institutional buyers, 15% to non-institutional investors, 35% to retail. A 35% retail share is the wider end of the range, which improves the odds for small applications when the book is only modestly oversubscribed. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.
Revenue moved from ₹19176.83 Cr in 31 Mar 2025 to ₹18713.37 Cr in 31 Mar 2026 (-2.4%), while profit after tax went from ₹12187.69 Cr to ₹10302.06 Cr (-15.5%). Both revenue and profit are lower than the year before, so the company is heading into the issue on a declining trend.
MUFG Intime India Pvt.Ltd. is the registrar for this issue, which means the allotment status for NSE is published on their portal from 23 Sep 2026. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.
What looks good
- Return on equity of 32.98% is strong for the sector.
What to watch
- Revenue and profit both fell in the latest reported year.
This analysis is generated from the figures shown on this page and is for information only. It is not investment advice — read the RHP before you apply.
About NSE
Incorporated in November 1992, National Stock Exchange of India Limited (NSE) is India's largest stock exchange and one of the world's leading multi-asset exchange platforms. NSE provides a vertically integrated ecosystem comprising trading, clearing, settlement, listing, market data, index services, and regulatory oversight across multiple asset classes, including equities, derivatives, currency derivatives, commodities, debt securities, and mutual funds.
NSE has consistently maintained its leadership position in India in cash market turnover, equity derivatives trading, and currency derivatives trading. As of March 31, 2026, the exchange served over 253 million registered investor accounts, 129 million unique investors, 1,325 trading members, and 2,978 listed companies, with a total listed market capitalization of approximately ₹411 trillion. During Fiscal 2026, over ₹20.3 trillion was mobilized through its platform.
The exchange operates on a highly scalable and resilient technology infrastructure that supports high-frequency trading, real-time market data dissemination, risk management, surveillance, and regulatory compliance. NSE plays a critical role in India's capital market ecosystem by promoting transparency, investor protection, efficient price discovery, and broad-based financial inclusion across more than 99% of Indian postal codes.
As of March 31, 2026, NSE had 1,974 full-time employees, while its subsidiaries employed an additional 907 employees across technology, operations, risk management, compliance, and business functions.
Largest stock exchange in India across key trading segments.
Leading global multi-asset exchange by equity derivatives trading volumes.
Strong brand built on trust, transparency, and market integrity.
Vertically integrated business model covering trading, clearing, settlement, and market data services.
Advanced technology platform designed for scale, resilience, and security.
Well-positioned to benefit from India's growing capital markets and investor participation.
Strong network effects driven by investors, listed companies, and intermediaries.
Comprehensive product offerings across multiple asset classes.
Consistent profitability, cash generation, and financial performance.
Experienced management team with strong governance and regulatory expertise.
