Shares of NSE will also list on the Metropolitan Stock Exchange (MSEI) following its much-anticipated market debut on Thursday. MSE said the equity shares of NSE will be admitted for trading on the capital market segment of the exchange under the ‘Permitted to trade’ category, with effect from September 24 onwards.
“Trading Members of the Exchange are hereby informed that Equity Shares of the following company (NSE) shall be admitted for trading on the Capital Market Segment of the Exchange under “Permitted to Trade” category w.e.f. September 24, 2026. The company admitted for dealing under “Permitted to trade” do not execute the listing agreement with Exchange and therefore do not provide the full disclosures,” said MSE in a circular.
While the National Stock Exchange (NSE) has chosen rival BSE as its designated stock exchange, other exchanges are allowed to trade its shares. The MSE is a SEBI-recognized national stock exchange that provides a technology-driven electronic trading platform across multiple financial segments.
NSE, which is also the country’s largest stock exchange, has not submitted an application for regulatory permission to allow trading in its shares on its own exchange.
Investors would be keenly watching the debut of NSE as its Rs 22,568.94-crore IPO, India’s second-largest public issue, was subscribed 5.71 times, thus becoming the most subscribed among the country’s five largest IPOs. The issue received bids for 50.58 crore shares against 8.86 crore shares on offer, according to exchange data.
As per signals in the grey market, NSE shares may hit the bourses with a single-digit listing gain. The grey market premium (GMP) of unlisted NSE shares hit a low of Rs 43 per share on early Wednesday but recovered to Rs 90 later in the day, indicating a listing gain of more than 5%. Based on the IPO price of Rs 1,785, the GMP indicates a potential listing price of around Rs 1,875 per share.
Demand for NSE’s initial share sale was led by Qualified Institutional Buyers (QIBs) with their quota subscribed 12.68 times, followed by non-institutional investors (booked 6.55x). Retail investors showed minimal interest in having a stake in the country’s largest stock exchange as their allotted quota was booked just 1.39 times. The portion set for employees was booked 2.40 times.
The encouraging response is primarily attributed to NSE's dominant position in India’s capital market, strong balance sheet and ‘subscribe’ rating by brokerage firms. NSE is expected to hit the exchanges later this week.