IPO Bidding Alert: NSE IPO Gets 115% Subscription as NIIs Category Demand Leads on Day 2, September 18, 2026

Written by: Team Angel OneUpdated on: 19 Sept 2026, 12:05 am IST

The NSE IPO has achieved a total subscription of 1.15 times, with cumulative bids for 10,21,51,224 shares against 8,86,42,911 shares offered.

The recent data from the NSE IPO subscription from the NSE website on Day 2, updated at 6:03 PM on September 18, 2026, shows a total subscription of 1.15 times.

The IPO received bids for 10,21,51,224 shares out of the 8,86,42,911 shares offered. The subscription levels varied across different investor categories.

Here is the updated structured data table capturing the revised subscription numbers as of 18:03:00 (6:03 PM) on September 18, 2026:

Consolidated Bid Details (Updated as of September 18, 2026, 6:03 PM)

SR. NO.	CATEGORY	NO. OF SHARES OFFERED / RESERVED	NO. OF SHARES BID FOR	Day 1 Subscription (NO. OF TIMES OF TOTAL MEANT FOR THE CATEGORY) (September 17, 2026)	Day 2 Subscription (NO. OF TIMES OF TOTAL MEANT FOR THE CATEGORY) (September 18, 2026)
1	Qualified Institutional Buyers (QIBs)	2,52,07,867	3,85,65,448	0.19	1.53
1(a)	Foreign Institutional Investors (FIIs)	-	54,85,616		-
1(b)	Domestic Financial Institutions (Banks/ Financial Institutions (FIs)/ Insurance Companies)	-	2,54,87,760		-
1(c)	Mutual Funds	-	28,03,248		-
1(d)	Others	-	47,88,824		-
2	Non Institutional Investors	1,89,00,483	3,13,01,528	0.72	1.66
2.1	Non Institutional Investors (Bid amount of more than Ten Lakh Rupees)	1,26,00,322	1,98,74,160		1.58
2.1(a)	Corporates	-	14,89,904		-
2.1(b)	Individuals (Other than RIIs)	-	1,74,28,016		-
2.1(c)	Others	-	9,56,240		-
2.2	Non Institutional Investors (Bid amount of more than Two Lakh Rupees upto Ten Lakh Rupees)	63,00,161	1,14,27,368		1.81
2.2(a)	Corporates	-	1,13,920		-
2.2(b)	Individuals (Other than RIIs)	-	1,10,64,032		-
2.2(c)	Others	-	2,49,416		-
3	Retail Individual Investors (RIIs)	4,41,01,125	3,16,28,984	0.44	0.72
3(a)	Cut Off	-	2,84,87,776		-
3(b)	Price bids	-	31,41,208		-
4	Employees	4,33,436	6,55,264	0.97	1.51
4(a)	Cut Off	-	4,99,120		-
4(b)	Price bids	-	1,56,144		-
-	Total	8,86,42,911	10,21,51,224	0.43	1.15

Note: The above data take from the NSE website on Day 2, updated at 6:03 PM on September 18, 2026,

Employee Category Subscription on NSE IPO

The employee segment showed a subscription rate of 1.51 times, with 6,55,264 shares bid for against 4,33,436 shares offered. Most bids, amounting to 4,99,120 shares, were placed at the Cut Off price, while 1,56,144 shares were through price bids.

Non-Institutional Investors (NIIs) Subscription on NSE IPO

The NIIs category recorded a subscription of 1.66 times, receiving bids for 3,13,01,528 shares against 1,89,00,483 shares offered. Within this, bids above ₹10 lakh were subscribed at 1.58 times, with 1,98,74,160 shares bid for against 1,26,00,322 shares offered. The sub-category of bids above ₹2 lakh up to ₹10 lakh saw a subscription of 1.81 times, with 1,14,27,368 shares bid for against 63,00,161 shares offered.

Retail Individual Investors (RIIs) Subscription on NSE IPO

The RII segment, the largest by size with 4,41,01,125 shares offered, recorded a subscription of 0.72 times. It received bids for 3,16,28,984 shares, with a preference for the Cut Off option, which accounted for 2,84,87,776 shares, compared to 31,41,208 shares via price bids.

Qualified Institutional Buyers (QIBs) Subscription on NSE IPO

The QIB category achieved a subscription of 1.53 times, with 3,85,65,448 shares bid for against 2,52,07,867 shares offered. Domestic Financial Institutions led with 2,54,87,760 shares, followed by FIIs at 54,85,616 shares, Others at 47,88,824 shares, and Mutual Funds at 28,03,248 shares.

Offer Size of NSE IPO

The public offer comprises a secondary sale of up to 12,64,36,650 individual equity shares with a nominal face value of ₹1 each. At the lower floor price, the total aggregate offer size is valued at ₹21,486.45 crore.

If the transaction hits the maximum cap price, the overall offer valuation scales up to ₹22,561.57 crore. This calculation establishes the total post-offer market capitalization between ₹4,20,750.00 crore and ₹4,41,787.50 crore.

Price Band and Bidding Parameters of NSE IPO

The equity share pricing window is locked within a strict price band of ₹1,700 to ₹1,785 per equity share. Potential investors can place bids for a minimum of 8 equity shares and in multiples of 8 thereafter.

Eligible corporate employees participating via the dedicated reservation portion receive an upfront employee discount of ₹170 per share. The employee segment secures an aggregate share allocation value up to ₹70.00 crore.

Key Timetable Indicators for NSE IPO

The bidding timeline for institutional anchor investors opened and successfully concluded on Wednesday, September 16, 2026. The general booking window for the public opens on Thursday, September 17, 2026.

The entire bidding program is scheduled to close for all category applications on Monday, September 21, 2026. The technical finalization of the basis of allotment with the exchange will happen on Tuesday, September 22, 2026.

Conclusion

The NSE IPO subscription data as of September 18, 2026, shows varied interest across categories, with NIIs leading at 1.66 times and QIBs at 1.53 times. Employees and RIIs recorded 1.51 and 0.72 times, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

Published on: Sep 17, 2026, 8:40 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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