Shares of National Stock Exchange (NSE) will trade on Metropolitan Stock Exchange of India (MSEI) apart from BSE on September 24.

"Trading Members of the Exchange are hereby informed that Equity Shares of 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," said MSEI in a circular on September 23.

According to market observers, unlisted shares of National Stock Exchange (NSE) were commanding a grey market premium (GMP) of Rs 43 per share on Wednesday, compared with Rs 65 on Tuesday. Based on the IPO price of Rs 1,785, the GMP indicates a potential listing price of around Rs 1,828 per share, which is a 2.41 per cent listing gain. However, investors should note that the grey market is unofficial and GMP keeps changing based on investor sentiment.

NSE saw a strong overall subscription of 5.71x on the final day of its bidding.

On the last day of bidding on Monday, the 22,561.57-crore IPO has received a strong 5.71x subscription, garnering bids for 50.60 crore shares, compared with 8.86 crore shares on offer. Its retail category has been subscribed by 1.39x, while its non-institutional investor (NII) category has received a 6.55x subscription. The qualified institutional buyer (QIB) category got a 12.68x subscription. The company's shares are proposed to be listed on the BSE on Thursday, September 24. The public issue was open for public subscription between September 17 and September 21.

NSE has maintained a dominant position across several segments of India's capital markets. According to the Redseer report cited in the IPO documents, it accounted for 92.99% of India's cash market turnover and 99.79% of equity futures turnover in FY26. Its market share in equity options based on premium turnover stood at 74.71%. NSE is also the world's largest derivatives exchange by number of contracts traded in calendar 2025, according to Futures Industry Association (FIA) data. It ranked third globally in the equity segment by number of trades in 2025, according to World Federation of Exchanges (WFE) data. NSE's registered investor base has grown rapidly over the past few years.

Its unique registered investor base increased at a compound annual growth rate (CAGR) of 26.23% from 30.87 million as of March 2020 to 132.37 million as of June 2026. The market capitalisation of companies listed on its platform grew at a CAGR of 25.89% over the same period. As of June 30, 2026, NSE had 261.36 million registered investor accounts, 1,328 trading members and 3,005 listed entities. The market capitalisation of listed entities on its platform stood at Rs 474.08 lakh crore. The exchange said its investors span more than 99% of India's postal codes, reflecting the broadening reach of capital markets.

NSE's financial performance weakened in FY26 amid regulatory changes affecting derivatives trading and higher securities transaction tax (STT), but the company reported a stronger first quarter of FY27. Its revenue from operations rose 13.1% year-on-year to Rs 4,560 crore in the June 2026 quarter, compared with Rs 4,032 crore in the year-ago period. Net profit increased to Rs 3,121 crore from Rs 2,811 crore a year earlier.

Groww, Zerodha and other large retail brokers are likely to offer MSEI as an additional trading option for their cash market customers, with both discount brokers currently in the testing phase, Moneycontrol reported earlier this month.

MSEI had raised Rs 1,240 crore in two tranches in December 2024 and August 2025, which saw participation from major brokerage houses Groww and Zerodha.