National Stock Exchange of India Shares Drop Below IPO Price

National Stock Exchange of India shares fell below their initial public offering price of Rs 1,785 on Monday, September 28, 2026. The stock reached a low of Rs 1,761 per share, resulting in a market capitalization loss of more than Rs 12,000 crore and leaving the exchange with a valuation of Rs 4,37,580 crore.

This decline follows a September 24 market debut where the stock closed at Rs 1,818. The drop occurred during a wider crash in the Indian equity market, which investors attributed to rising oil prices and a stalemate in peace talks between the United States and Iran.

The IPO was the second-largest public issue in India, raising Rs 22,569 crore with a subscription rate of 5.71 times. Despite the current price dip, brokerage firms including Macquarie Group, Emkay Global Financial Services, and PL Capital maintain positive outlooks, with price targets suggesting potential gains of up to 15% over the issue price.