NSE IPO day 2: subscription status, timeline, and issue details

What happened

18 September 2026 was day 2 of public subscription for the NSE IPO. This note is dated 19 September 2026.

NSE (National Stock Exchange of India) is selling shares to the public. The issue size is about ₹22,561.57 crore. It is one of the largest public issues in India’s capital markets.

Issue details (plain English)

Issue type: book-built issue, OFS only (Offer for Sale).
Fresh issue: none. NSE itself does not get the IPO money. Existing shareholders sell shares they already own.
OFS size: up to about 12.64 crore equity shares / about ₹22,561.57 crore.
Face value: ₹1 per share.
Price band: ₹1,700 to ₹1,785 per share.
Lot size: 8 shares.
Minimum retail application (at upper band): about ₹14,280 (8 × ₹1,785).
Listing exchange: BSE.

OFS means: selling shareholders get paid. A fresh issue would mean the company raises cash for itself. Students often mix these up.

Day 2 subscription status

Subscription means: applications received ÷ shares reserved for that category.

As of 18 September 2026, about 3:30 p.m. (Groww update):

• QIBs (qualified institutional buyers): 1.32x
• NIIs (non-institutional investors): 1.43x
• Retail (RIIs): 0.68x (still below full)
• Employees reserved: 1.39x
• Total: about 1.02x

So by mid-afternoon on day 2, the overall book had just crossed full subscription, led by institutions and NIIs, while retail was still catching up. Books keep changing until close. Always recheck the official live page before you treat any print as final.

Words you need

QIB: big institutions such as funds and insurers.
NII: larger non-retail applications.
Retail / RII: smaller individual applications under retail rules.
Allotment: who gets shares when demand is higher than supply.
Listing: first day the share trades on the exchange.