NSE sets IPO price band at Rs 1,700-1,785, bidding from Sept 17

The National Stock Exchange has set the price band for its initial public offering at Rs 1,700-1,785 per share, with the three-day bidding opening on September 17 and closing on September 21. The lot size is eight shares, and retail investors need a minimum investment of Rs 14,280 at the upper band. The IPO is entirely an offer for sale by existing shareholders, with 50 per cent reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional investors. Listing is proposed on September 24 on the BSE.

At Rs 22,569 crore, the issue is the country's second-largest public offering after Hyundai Motor India. The Hindu Business Line reports that Oriental Insurance Company, which is selling 49.57 lakh shares in the IPO, expects the proceeds of around Rs 885 crore to help it return to profit in 2026-27. State Bank of India has reduced its proposed share sale to around 1.60 crore shares from 2.47 crore shares, according to Times Now.

NSE Chief Business Development Officer Sriram Krishnan said that as regulators clamp down on retail F&O trading, investors will likely move toward institutional products such as Systematic Investment Funds for derivatives exposure. He added that the exchange expects listed companies on its platform to nearly double to about 6,000 over the next decade.