NSE IPO Day 3: 1.16x subscribed at 42.9x FY26 PE — subscribe or skip?
The NSE IPO entered its final day at 1.16x overall subscription with a 3% grey market premium, pricing the exchange at 42.9x FY26 earnings and a post-issue market cap of about Rs 4.42 lakh crore. Institutions are driving demand while retail trails at 72%, and the entire Rs 22,569 crore issue is an offer for sale, so no proceeds flow to the company. Listing is expected on BSE on September 24.