IPO Bidding Alert: NSE IPO Gets 571% Subscription as QIBs Category Demand Leads on Day 3, September 21, 2026

Written by: Team Angel OneUpdated on: 22 Sept 2026, 1:02 am IST

The NSE IPO has achieved a total subscription of 5.71 times, with cumulative bids for 50,58,11,384 shares against 8,86,42,911 shares offered.

The recent data from the NSE IPO subscription from the NSE website on Day 3, updated at 7:00 PM on September 21, 2026, shows a total subscription of 5.71 times.

The IPO received bids for 50,58,11,384 shares out of 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 19:00:00 (7:00 PM) on September 21, 2026:

Consolidated Bid Details (Updated as of September 21, 2026, 7:00 PM)

SR. NO.	CATEGORY	NO. OF SHARES OFFERED / RESERVED	NO. OF SHARES BID FOR	Day 1 Subscription (September 17, 2026)	Day 2 Subscription (September 18, 2026)	Day 3 Subscription (September 21, 2026)
1	Qualified Institutional Buyers (QIBs)	2,52,07,867	31,97,15,504	0.19	1.53	12.68
1(a)	Foreign Institutional Investors (FIIs)	-	14,03,19,136	-	-	-
1(b)	Domestic Financial Institutions (Banks/FIs/Insurance)	-	6,79,62,488	-	-	-
1(c)	Mutual Funds	-	5,40,84,792	-	-	-
1(d)	Others	-	5,73,49,088	-	-	-
2	Non Institutional Investors	1,89,00,483	12,37,51,624	0.72	1.68	6.55
2.1	NII (Bid amount > 10 Lakh Rupees)	1,26,00,322	9,79,71,576	-	1.60	7.78
2.1(a)	Corporates	-	80,63,032	-	-	-
2.1(b)	Individuals (Other than RIIs)	-	8,39,17,608	-	-	-
2.1(c)	Others	-	59,90,936	-	-	-
2.2	NII (Bid amount > 2 Lakh Rupees upto 10 Lakh Rupees)	63,00,161	2,57,80,048	-	1.83	4.09
2.2(a)	Corporates	-	2,48,104	-	-	-
2.2(b)	Individuals (Other than RIIs)	-	2,47,80,136	-	-	-
2.2(c)	Others	-	7,51,808	-	-	-
3	Retail Individual Investors (RIIs)	4,41,01,125	6,13,05,464	0.44	0.72	1.39
3(a)	Cut Off	-	5,37,15,800	-	-	-
3(b)	Price bids	-	75,89,664	-	-	-
4	Employees	4,33,436	10,38,792	0.97	1.53	2.40
4(a)	Cut Off	-	7,95,608	-	-	-
4(b)	Price bids	-	2,43,184	-	-	-
-	Total	8,86,42,911	50,58,11,384	0.43	1.16	5.71

Note: The above data take from the NSE website on final Day 3, updated at 7:00 PM on September 21, 2026,

Employee Category Subscription on NSE IPO

The employee segment showed a subscription rate of 2.40 times, with 10,38,792 shares bid for against 4,33,436 shares offered. Most bids, amounting to 7,95,608 shares, were placed at the Cut Off price, while 2,43,184 shares were through price bids.

Non-Institutional Investors (NIIs) Subscription on NSE IPO

The NIIs category recorded a subscription of 6.55 times, receiving bids for 12,37,51,624 shares against 1,89,00,483 shares offered. Within this, bids above ₹10 lakh were subscribed at 7.78 times, with 9,79,71,576 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 4.09 times, with 2,57,80,048 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 1.39 times. It received bids for 6,13,05,464 shares, with a preference for the Cut Off option, which accounted for 5,37,15,800 shares, compared to 75,89,664 shares via price bids.

Qualified Institutional Buyers (QIBs) Subscription on NSE IPO

The QIB category achieved a subscription of 12.68 times, with 31,97,15,504 shares bid for against 2,52,07,867 shares offered. Foreign Institutional Investors (FIIs) led with 14,03,19,136 shares, followed by Domestic Financial Institutions at 6,79,62,488 shares, Others at 5,73,49,088 shares, and Mutual Funds at 5,40,84,792 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.

For successful applicants, the shares are tentatively expected to list on September 24, 2026, exclusively on the BSE, as current regulatory frameworks prevent an exchange from listing its own securities on its own platform.

Conclusion

The NSE IPO subscription data as of September 21, 2026, shows strong final interest across categories, with QIBs leading at 12.68 times and NIIs at 6.55 times. Employees and RIIs closed at 2.40 and 1.39 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 21, 2026, 5:08 PM IST

Team Angel One

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