NSE IPO Day 2: Subscription At 0.55x, GMP At Rs 120, Should You Hit Subscribe?

PF Insurance May Rise From Rs 7 Lakh To Rs 10.5 Lakh: What Employees Need To Know

Sagarika Chakraborty — Fri, 18 Sep 2026 20:13:04 +0530

If you are a Provident Fund (PF) subscriber, you could soon get higher life insurance coverage under the Employees' Deposit Linked Insurance (EDLI) scheme. The existing maximum insurance cover of Rs 7 lakh may increase to Rs 10.5 lakh following the government's decision to raise the EPFO salary limit.

The government has approved the proposal, with the revised salary limit coming into effect from September 17. The move is aimed at bringing more employees under the Provident Fund system.

More Employees To Come Under PF Benefits

The government expects more than 51 lakh new employees to be covered under Provident Fund benefits following the approval.

The move is expected to expand the protection available to employees under the Provident Fund Savings and Employees Pension Scheme. It could also increase the maximum life insurance coverage available under the EDLI scheme.

How Much Could The Free Insurance Cover Be?

Under the current rules, the maximum EDLI life insurance benefit is capped at Rs 7 lakh.

The benefit is calculated based on an employee's salary for the last 12 months, subject to the prescribed maximum salary limit or wage ceiling, along with the average EPF balance. A specified portion of both is taken into account while calculating the benefit.

ALSO READ: RBI Rate Hikes Likely In October, December? HSBC Retains 5.75% Repo Rate Call

At present, the maximum benefit is calculated as:

(Rs 15,000 × 35) + Rs 1.75 lakh = Rs 7 lakh

If the salary limit is increased to Rs 25,000, the calculation would become:

(Rs 25,000 × 35) + Rs 1.75 lakh = Rs 10.5 lakh

This would mean a potential increase of Rs 3.5 lakh in the maximum insurance benefit.

What Is The Catch?

The increase in EDLI insurance coverage from Rs 7 lakh to Rs 10.5 lakh will depend on whether the government changes the salary limit used to calculate the insurance benefit.

The current maximum limit of Rs 1.75 lakh for the EPF balance-based component remains unchanged. If this amount is also increased as part of the EDLI rule revision, the maximum insurance benefit could rise further.

Therefore, while the revised salary limit could potentially take the maximum EDLI cover to Rs 10.5 lakh, the final insurance benefit will depend on the changes made to the rules governing its calculation.

ALSO READ: Sugar Stock Limit Doubled To 30 Days: What Changes For Bulk Consumers

Sugar Stock Limit Doubled To 30 Days: What Changes For Bulk Consumers

Sagarika Chakraborty — Fri, 18 Sep 2026 17:16:41 +0530

The Centre has increased the stockholding limit for bulk consumers of sugar from 15 days to 30 days, allowing companies that use sugar in large quantities to maintain stocks equivalent to up to a month’s consumption.

However, the government has specified that any additional sugar stocked beyond the existing 15-day limit must be sourced only from imported sugar.

Extra Stock Must Be Imported Sugar

Under the revised rule, the additional stock can only comprise sugar imported under the Advance Authorisation Scheme and the Tariff Rate Quota.

There is no change in the stockholding limit for sugar purchased from the open market. Such sugar will continue to be subject to the existing 15-day stock limit.

The government has also asked traders and wholesalers to ensure that the benefit of lower ex-factory sugar prices is passed on to consumers.

ALSO READ: RBI Rate Hikes Likely In October, December? HSBC Retains 5.75% Repo Rate Call

Retail Sugar Prices Down 10%

The government said retail sugar prices have declined by around 10 per cent. Sugar was selling at around Rs 65 per kg in August, while the retail price has now fallen to approximately Rs 58.50 per kg.

However, sugar prices at the mill level have declined by around 25 per cent.

According to the government, the reduction in prices at the mill level has not yet been fully reflected in the prices paid by consumers. It has therefore asked traders and wholesalers to pass on the benefit of cheaper sugar to customers.

ALSO READ: Tata Sierra Legend Series Gets More Features, Prices Start At Rs 11.9 Lakh

Tata Sierra Legend Series Gets More Features, Prices Start At Rs 11.9 Lakh

Somnath Chatterjee — Fri, 18 Sep 2026 16:52:34 +0530

The Sierra gains a new Legend Series including the new Smart+ L, Pure L, Pure L (O), Pure + L and Adventure + L. Here for a premium of Rs 50,000 to Rs 70,000 there are more features spread out.

There are more topend features now being added for example the dual zone climate control, boss mode, thigh support extension and ventilated seats were mostly on the top end which now makes its way into the lower end trims. The base trim isn't base with many features including auto mirrors, steering controls and leatherette seats.

Pure L now adds a 10.25 inch touchscreen and a rear camera plus an 8 speaker audio system etc. The Adventure+ L has a 360 degree camera, FAD dampers, cooled globe box etc.

Sierra Legend Series: Powertrains And Pricing

Powertrains remain the same but the Pure+ L has the more powerful turbo petrol engine and is the most accessible way to get a turbo petrol. Prices start at Rs 11.9 lakh for the Smart+ L and end at Rs 18.19 lakh for the Adventure+ L.

This adds more value for the Sierra range and give an option to buy a more feature packed SUV for less price. The Legend Series now makes for a good buy if you want a Sierra with more features being added from the variants above.

While this adds confusion to the buyer in terms of the variants, the Sierra L we think makes more sense now over before expanding its value. Powertrains otherwise remain the same with diesel and turbo petrol plus the NA petol being available too.

This could provide an uptick to Sierra sales overall we feel.

RBI Rate Hikes Likely In October, December? HSBC Retains 5.75% Repo Rate Call

IANS — Fri, 18 Sep 2026 16:46:04 +0530

New Delhi, Sep 18 (IANS) India’s central bank should consider acting early on rates to strengthen credibility, support the currency and reduce the need for larger tightening later, a report said on Friday.

Suggesting the RBI to consider "hiking early to hike less", the report from HSBC Global Investment Research said it maintained its view of two 25 basis point hikes in the October and December meetings, taking the repo rate to 5.75 per cent.

"We also expect further clarity/steps on liquidity removal in the October meeting", the report said.

The report argued that early moves help markets infer whether the governor is genuinely inflation‑averse, reduces the inflation risk premium and that credibility can do some of the tightening, meaning fewer hikes may be needed later.

"Global and domestic conditions have shifted quickly. The Foreign Currency Non-Resident Bank scheme has pulled in $127 billion, lifting spot FX reserves, but leaving a domestic liquidity glut," said Pranjul Bhandari Chief India Economist/Strategist, ASEAN Economist.

The oil price is up 20 per cent since July, the Fed hiked 25 bps on September 16 and hinted at further rises, and the USD has rallied overnight – all of which matters for USDINR, the report noted.

Also Read : UPI MDR From October 15: Delhi Traders Say New Charge Could Push Customers Towards Cash

The report said that market expectations are now converging in India on two themes: removal of liquidity and RBI rate hikes.

FCNR(B) inflows have created a core liquidity surplus of nearly Rs 15 trillion. Excess liquidity can quickly become inflationary and can raise financial stability risks if banks become dependent on abundant liquidity.

The RBI has already deployed Variable Rate Reverse Repos (VRRRs), Open Market Operation (OMO) Sales, and FX swaps/spot sales, as Cash Reserve Ratio (CRR) hikes and Market Stabilisation Scheme (MSS) issuance are options under consideration.

(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)

UPI MDR From October 15: Delhi Traders Say New Charge Could Push Customers Towards Cash

ABP Live Business — Fri, 18 Sep 2026 16:39:56 +0530

A new charge on select UPI transactions has become a concern for traders in Delhi, particularly retailers whose bills frequently cross the Rs 2,000 threshold. Some shopkeepers in Lajpat Nagar Central Market said they may encourage customers to use cash for larger purchases once the new Merchant Discount Rate (MDR) takes effect.

From October 15, a 0.4 per cent MDR will apply to eligible person-to-merchant (P2M) UPI transactions above Rs 2,000. The charge will be paid by merchants and capped at Rs 300 for transactions of Rs 75,000 and above.

Customers will not be charged the MDR. UPI payments between individuals and merchant transactions of up to Rs 2,000 will continue to remain free.

Delhi Retailers Concerned About Margins

The prospect of paying MDR is particularly relevant for businesses selling higher-value products.

Arjun Rawat, 40, who runs a crockery shop in Lajpat Nagar, said around 30-40 per cent of his payments come through Paytm or UPI. Speaking to Business Standard, he said most of his products are priced above the Rs 2,000 threshold.

“Our products are relatively expensive, so most transactions cross Rs 2,000. That means a large share of our UPI payments could attract the MDR,” Rawat said.

Garment retailer Deepak Nagpal, 43, also questioned why merchants should bear the cost after years of zero-MDR UPI transactions.

“I think the government has cheated us. UPI has been free since Covid, so why is the government charging us now? The burden should not be on us,” Nagpal said.

Jewellery shop owner Vijay Gupta described the MDR as another expense for retailers.

“This is an additional cost for us. We already pay 18 per cent GST, and there are charges on credit and debit card transactions. Now UPI will also have a charge,” Gupta said.

Cosmetics seller Anil Katharia raised concerns about the possibility of the rate increasing in the future.

“Today the charge is 0.4 per cent. Tomorrow, they could increase it further,” Katharia said.

Also Read : NSE IPO Day 2: Subscription At 0.55x, GMP At Rs 120, Should You Hit Subscribe?

Some Traders May Encourage Cash Payments

For retailers operating on tight margins, absorbing the MDR may not be straightforward.

Lalit Kalra, owner of Dayal Opticals, said his business could encourage customers to use cash for transactions that attract the charge.

“We will have to ask customers to pay in cash. We can’t help it, but we will encourage them to pay in cash,” Kalra said.

That prospect is not necessarily welcomed by customers who have become accustomed to digital payments.

“I hope shopkeepers do not pester us to pay in cash. After such widespread adoption of UPI, carrying cash everywhere is simply not practical,” said Karan Sharma, 35, a Delhi resident.

Small vendors with monthly UPI transactions below Rs 1 lakh will be exempt from MDR on individual transactions above Rs 2,000.

There will also be different charges for certain categories. Railways, telecom, insurance and fuel transactions will attract a flat Rs 5 fee above the applicable threshold, while capital-market transactions will carry an MDR of 0.02 per cent, capped at Rs 300.

The government has said around 96 per cent of P2M transactions will remain unaffected.

Why The Government Is Bringing Back MDR

The government has rejected allegations that the decision to introduce MDR was influenced by the US Trade Representative (USTR).

“The allegation that MDR has been introduced under any external influence is patently false and misleading,” the Department of Financial Services (DFS) said.

The government's stated rationale is to create a sustainable revenue model for the UPI ecosystem and give smaller domestic payment companies greater scope to compete.

The DFS said NPCI's 30 per cent market-share limit for third-party application providers, announced in November 2020, could not be implemented because smaller companies lacked a self-sustaining revenue model.

According to the government, MDR on selected high-value transactions is intended to provide such a revenue stream and enable more domestic companies to expand their operations.

The government also plans to increase the market share of BHIM UPI, developed by NPCI, which currently accounts for less than 1 per cent of UPI transactions.

PhonePe and Google Pay account for 45.64 per cent and 32.26 per cent of UPI transaction volumes, respectively, according to government sources.

UPI Has Grown Into A Large Payment Network

The new revenue framework comes after more than six years of zero MDR on merchant UPI transactions.

The government introduced the zero-MDR policy in January 2020, after an earlier MDR regime that had been in place intermittently following UPI's launch in 2016.

Since then, UPI has become a widely used payment method for both consumers and businesses. NPCI data showed 24.5 billion UPI transactions in August 2026 alone.

The government estimates the cost of providing a UPI transaction at around Rs 1.38. It said the 0.4 per cent MDR was decided after examining MDR rates in other countries, where charges were broadly between 0.3 per cent and 0.6 per cent.

Also Read : Car Loan Interest Rates September 2026: Canara Bank, SBI, HDFC Bank And Others Compared

GST On MDR May Also Be Examined

The 18 per cent GST applicable to MDR is another issue under consideration.

Government sources said GST-registered businesses can generally claim input tax credit on eligible business expenses, which can offset the tax incidence. Businesses below the applicable GST registration thresholds, Rs 40 lakh for goods and Rs 20 lakh for services, may not be registered taxpayers.

The GST Council could examine any remaining concerns, including situations where input tax credit is unavailable or where the additional tax burden has a disproportionate effect, sources said.

The government is also approaching payment aggregators to ensure that the MDR is not passed on to customers or imposed on merchants in a way that falls outside the framework.

For Delhi's retailers, however, the immediate question is how the new charge will affect the cost of accepting digital payments once the revised MDR rules come into effect on October 15.

Stock Markets Close On A Muted Note, Sensex Falls To 74,294, Nifty Ends At 23,346

Sagarika Chakraborty — Fri, 18 Sep 2026 15:36:38 +0530

The Indian benchmark indices ended on a muted note on Friday as the Sensex fell more than 19 points to end at 74,294 and the Nifty closed over 75 points higher at 23,346 points at 3:30 PM.

In the 30-share BSE Sensex, among the top gainers were stocks such as Adani Ports, PowerGrid, HDFC Bank, Bharti Airtel and Bajaj Finance. Meanwhile, the laggards included stocks like Infosys, Bharat Electronics, Reliance, ICICI Bank and Trent.

In the broader markets, the Nifty Smallcap 100 jumped 1.74 per cent as volatility crashed severely. Sectorally, the Nifty IT index fell 1.03 per cent and the Nifty Cement index gained 1.90 per cent.

Previously, during the early morning session, the Sensex rallied more than 200 points and crossed 74,500, while the NSE Nifty50 jumped over 70 points to inch closer to 23,350, around 9:15 AM.

Global market cues turned more supportive on Friday as Wall Street rebounded sharply from the previous session’s Fed-driven selloff, while Asian markets traded largely higher. However, cautious sentiment persisted amid the US Federal Reserve’s hawkish stance and the possibility of further monetary tightening.

Brent crude, the global oil benchmark, traded 0.93 per cent lower at USD 103.8 per barrel.

Asian Markets Trade Higher

In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite and Hong Kong’s Hang Seng were trading in positive territory. US markets also ended higher on Thursday.

ALSO READ: JSW Motors’ Biggest Surprise? Chery iCaur V23 Spotted Testing In India

The S&P 500 gained 1.1 per cent, while the Nasdaq surged 1.7 per cent, led by chipmakers. Easing bond yields and a retreat in crude prices provided some relief to global markets.

“However, the Federal Reserve’s hawkish stance and the possibility of further tightening continue to keep global sentiment cautious,” Rajesh Palviya, Head of Research, Axis Direct, said.

Tata Stocks Under Pressure

Majority of Tata Group stocks were trading lower during early trade. TCS declined 3 per cent after advancing in the previous session.

Tata Sons has plunged into its most serious boardroom crisis since the ouster of Cyrus Mistry after directors voted to reappoint N Chandrasekaran as executive chairman for another five-year term. The decision prompted Tata Trusts to declare the resolution void and reopen a broader battle over the conglomerate’s future.

FIIs Sell Over Rs 3,200 Crore

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,208.76 crore on Thursday, according to exchange data.

On Thursday, the Sensex dipped 21.86 points, or 0.03 per cent, to settle at 74,314.59. The Nifty ended marginally higher by 53 points, or 0.23 per cent, at 23,270.60.

ALSO READ: Nestle Baby Food Under FSSAI Scanner: 3 Cases Filed Over Ads, Biotin Content

Nestle Baby Food Under FSSAI Scanner: 3 Cases Filed Over Ads, Biotin Content

Varun Bhasin — Fri, 18 Sep 2026 13:26:48 +0530

The Food Safety and Standards Authority of India (FSSAI) has initiated legal action against Nestle India over alleged regulatory non-compliance involving its infant nutrition products, including NAN Excella Pro Stage 1 and Lactogen Pro 1.

The food safety regulator said it examined the products and promotional material available on e-commerce platforms. It flagged certain claims made for the products and separately found that a follow-up formula manufactured by Nestle India did not conform to prescribed requirements for biotin, a vitamin.

FSSAI said three separate adjudication cases have been filed against Nestle India in connection with the alleged violations.

FSSAI Flags Claims On NAN Excella Pro, Lactogen Pro

In the case of NAN Excella Pro Stage 1, FSSAI flagged promotional claims relating to “5 HMOs” and “Whey Protein”.

For Lactogen Pro 1, the regulator raised concerns over a claim that its “Whey Protein” was easy to digest. FSSAI said both products were found to be in contravention of Regulation 4(2) of the Food Safety and Standards (Foods for Infant Nutrition) Regulations, 2020.

The provision restricts promotional claims and material intended to increase the saleability of infant foods. FSSAI also cited Section 3 of the Infant Milk Substitutes, Feeding Bottles and Infant Foods (Regulation of Production, Supply and Distribution) Act, 1992, which prohibits their advertisement and promotion.

Separate Action Over Biotin Content

FSSAI said it had sought clarifications from Nestle India regarding the promotional claims. Separately, a sample of a follow-up formula manufactured by the company was found to be sub-standard for its biotin content during laboratory analysis.

The sample was subsequently sent for re-analysis. According to FSSAI, the referral laboratory also found that the product did not conform to the prescribed biotin requirement under the 2020 regulations.

Three Cases Filed Against Nestle India

In view of the alleged violations, FSSAI said three separate adjudication cases had been filed against Nestle India.

The action covers the alleged contraventions involving promotional claims for NAN Excella Pro Stage 1 and Lactogen Pro 1, as well as the laboratory finding concerning biotin content in a follow-up formula.

FSSAI's action relates to regulatory compliance and does not, by itself, establish that the products are unsafe for consumption.

JSW Motors’ Biggest Surprise? Chery iCaur V23 Spotted Testing In India

Somnath Chatterjee — Fri, 18 Sep 2026 13:14:48 +0530

While the Jetour T2 would be their first car, JSW Motors has a long line-up of new offerings also in the bag after the launch of that car. It includes more products from the Chery portfolio including the iCaur V23.

Being spotted testing in India, this will rival the Mahindra Thar and the 4x4s with its tough looks but this is an EV of course. The top-end battery pack will come with AWD and speaking of which, the V23 will most likely come with either 59.93kWh or an 81.76kWh battery pack while the range will top out at 450 km.

iCaur V23 Design and Features

With a dual motor set-up, the V23 will be a serious off-road rival with on-road credentials as well. The car has circular LED headlamps and a square shaped boxy look which is seen with most off-road biased cars. It looks tough and boxy despite being compact.

Another interesting design element is the tailgate mounted box to store the charging cable. Inside, it looks premium but has chunky buttons while the main highlight is the 15.6 inch touchscreen.

The car will come with 5 seats and for the Indian markets it could come with extra features to make it compete better with the Roxx and other cars here. Hence, expect a panoramic sunroof amongst other upgrades.

Also Read : 900bhp, Fast Laps And Off-Roading: Inside Lamborghini Esperienza Corsa

JSW Motors’ Premium EV Strategy

The V23 would be the second model after the Jetour T2 premium plug-in hybrid SUV. JSW Motors will bring premium electrified cars and won't have any petrol or diesel cars being mostly EVs, hybrids and plug-in hybrid cars.

The V23 could be the major volume player and would be a key model for JSW Motors in expanding its presence. Expect a launch by next year starting being the second one while entering into a crowded segment of premium EVs with dual motors like the Sierra AWD along with traditional rivals like the Roxx as well.

900bhp, Fast Laps And Off-Roading: Inside Lamborghini Esperienza Corsa

Somnath Chatterjee — Fri, 18 Sep 2026 13:09:50 +0530

Lamborghini recently conducted its first ever Esperienza Corsa event where customers can experience the Temerario at the Buddh International Circuit. There was also a 4x4 experience section with the Lamborghini Urus SE.

Lamborghini has an electrified line-up these days with its High-Performance Electrified Vehicle including the powerful duo of the Temerario supercar and the Urus SE. Here the Temerario was driven on the track and each setting was explored along with acceleration, braking and handling at a secure place. None other than the BIC and we were part of the fun too.

Temerario Brings Over 900bhp To The Track

The Temerario has a combined horsepower of over 900bhp and that is very quick indeed including its 4.0-liter twin-turbo V8 engine only developing 800 bhp. 0-100 km/h is just 2.7 seconds which is insanely quick while the exhaust note when the V8 kicks in is loud as well.

Also Read : Mahindra Thar Facelift: 3-Door SUV To Get Roxx-Like Design, More Features

Being hybrid has not tempered with the soul of Lamborghini while only enhancing the speed. There were fast laps and the thrill of speed is indeed addictive with this fast missile taking only a few seconds to reach triple digit speeds.

The Temerario being AWD means you can use all that power but it is also fun when you want it but within a safety net. Being a supercar, the Temerario is sharp and has quick reflexes while the speed is something that can be experienced only on a track where you can realistically reach near its top-speed.

Lamborghini Urus SE Takes On The Off-Road

There was also a dedicated 4x4 experience section-yes, in a Lamborghini! Despite the thought of taking a Rs 5 crore Urus SE off-road, we banished our fears and were surprised how capable it is.

There are three dedicated off-road modes and the ground clearance plus the capability is something which owners probably wont ever get near at but whatever the surface, the 789bhp Urus completely dominated it.

All in all, it was a fun experience with two very fast Lamborghinis!

NSE IPO Day 2: Subscription At 0.55x, GMP At Rs 120, Should You Hit Subscribe?

Sakshi Arora — Fri, 18 Sep 2026 12:57:46 +0530

The NSE IPO is currently in its second day of bidding, with the Rs 22,561.57-crore issue receiving 55 per cent subscription by 11:30 AM on Friday, September 18, 2026.

The public issue opened on September 17 and will remain available for subscription until September 21. The issue is entirely an Offer for Sale (OFS), meaning no new shares are being issued by NSE and the proceeds will go to existing shareholders selling their stakes.

The IPO has a price band of Rs 1,700 to Rs 1,785 per share, while the lot size has been fixed at eight shares. At the upper end of the price band, investors need Rs 14,280 to apply for one lot.

NSE IPO Day 2 Subscription Status

As of 11:30 AM on September 18, the Non-Institutional Investors (NII) category had been subscribed 1.00 times, while the employee portion received 1.20 times subscription, as per data from Groww.

The retail investor category stood at 0.56 times subscription, while Qualified Institutional Buyers (QIBs) had subscribed 0.19 times.

Overall, the issue had received 55 per cent subscription.

Investor Category	Subscription
Qualified Institutional Buyers (QIBs)	0.19x
Non-Institutional Investors (NIIs)	1.00x
Retail Individual Investors (RIIs)	0.56x
Employees Reserved	1.20x
Total	0.55x

Also Read : Car Loan Interest Rates September 2026: Canara Bank, SBI, HDFC Bank And Others Compared

NSE IPO GMP Today

The grey market premium (GMP) for the NSE IPO stood at Rs 120 per share as of 12:30 PM on September 18, according to IPOJi.

Against the upper end of the IPO price band of Rs 1,785, the GMP represents a premium of around 7 per cent.

Based on the current GMP, the indicative listing price works out to Rs 1,905 per share, calculated by adding the Rs 120 premium to the upper price band of Rs 1,785.

The GMP was Rs 10 lower than the previous recorded quote.

Grey market premium is an unofficial indicator and the actual listing price can differ from the indicative price based on market conditions.

NSE IPO Is Entirely An Offer For Sale

Unlike an issue that includes a fresh share sale, the NSE IPO consists entirely of an OFS.

Existing shareholders are offering up to 12.64 crore equity shares as part of the issue. Since there is no fresh issue of shares, NSE itself will not receive proceeds from the public offering. The money raised will instead go to the shareholders selling their shares.

The State Bank of India Group is expected to sell around 1.60 crore equity shares. Other shareholders participating in the OFS include MS Strategic (Mauritius), Canada Pension Plan Investment Board (CPPIB), Aranda Investments (Mauritius), Bank of Baroda, GIC Re and several public sector insurance companies.

NSE IPO Price, Lot Size And Other Details

The IPO has been structured as a book-built issue with an OFS of up to Rs 22,561.57 crore.

Key details of the issue include:

IPO Detail	Information
IPO price band	Rs 1,700 To Rs 1,785 per share
Lot size	8 shares
Minimum investment at upper price band	Rs 14,280
Issue size	Up to Rs 22,561.57 crore
Issue type	Offer for Sale (OFS)
Face value	Rs 1 per equity share
Listing	BSE
Registrar	MUFG Intime India Private Limited

The issue has a large group of book-running lead managers, including Kotak Mahindra Capital Company, JM Financial, Morgan Stanley India Company, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), J.P. Morgan India, SBI Capital Markets, Anand Rathi Advisors, Avendus Capital, Axis Capital, DAM Capital Advisors, Equirus Capital, HDFC Bank, ICICI Securities, IDBI Capital Markets & Securities, IIFL Capital Services, Motilal Oswal Investment Advisors, Nuvama Wealth Management, Pantomath Capital Advisors and W 360 ONE WAM.

Also Read : Noel Tata Vs Chandrasekaran: Why Tata Trusts Is Opposing His Fresh 5-Year Term At Tata Sons

NSE IPO Allotment And Listing Dates

The subscription window will close on September 21.

The tentative schedule for the issue is:

IPO Event	Date
Subscription opens	September 17, 2026
Subscription closes	September 21, 2026
Basis of allotment	September 22, 2026
Refund initiation	September 23, 2026
Credit of shares	September 23, 2026
Listing on BSE	September 24, 2026

The allotment and listing dates are tentative and may be revised.

What Is NSE?

The National Stock Exchange of India is India's largest stock exchange by market activity and has maintained its leadership in cash market, equity derivatives and exchange-traded currency derivatives by turnover from FY2001 to FY2026.

In FY2026, NSE also ranked as the world's largest multi-asset exchange by the number of cash equity trades and equity derivatives contracts traded.

The exchange operates across trading, clearing, settlement, listing, market data and licensing services covering multiple asset classes.

As of March 31, 2026, NSE had 129.09 million unique investors, 253.66 million investor accounts, 1,325 trading members and 2,978 listed companies. Its total listed market capitalisation stood at Rs 411.25 trillion.