NSE IPO impact: New India Assurance, General Insurance, IFCI, other NSE shareholder stocks surge up to 9%

Shares of companies like New India Assurance, General Insurance, IFCI, among other corporate selling stakeholders in the NSE IPO, surged up to 9% during the trading session on Thursday, September 17, as the National Stock Exchange’s initial public offering opened for public subscription.

On September 17, the NSE IPO opened for public subscription and is scheduled to close for bidding after three days next week, after market hours, on Monday, September 21, 2026, as per the official schedule.

Listed state-run companies like New India Assurance, General Insurance, IFCI, State Bank of India, and Bank of Baroda were among the corporate selling stakeholders via the NSE IPO’s offer-for-sale (OFS) issue.

As the NSE IPO is an entirely OFS issue, the proceeds from the public issue will go directly to the corporate stakeholders and the company will not receive any funds from the public listing.

In total 10 shareholders are selling their stake in National Stock Exchange of India Ltd via the OFS issue, and the remaining names are National Insurance Co., United India Insurance, MS Strategic Mauritius, Canada Pension Plan Investment Board, and Aranda Investments Mauritius.

Although NSE did not disclose the total funds it aims to raise via the public issue, the company’s IPO is set to become one of the biggest initial public offerings in the Indian stock market.

Stock performance

State Bank of India

RHP data showed that India’s largest PSU bank, State Bank of India, will be selling up to 15,969,410 equity shares of National Stock Exchange Corporation of India (NSE) of a face value of ₹1 apiece via the OFS issue in the IPO round.

The weighted average cost of the stake sale was at ₹0.80 per equity share. Shares surged around 1% after the opening bell on Thursday’s market.

New India Assurance

New India Assurance is selling 1,05,00,000 or 1.05 crore equity shares with a face value of ₹1 per share for an average selling price of ₹0.32 per share via the OFS issue, according to the filing data.

Shares of New India Assurance surged 9.2% during the trading session on September 17, after the NSE IPO opened for public bidding.

Bank of Baroda

PSU bank Bank of Baroda will be selling up to 7,690,375 equity shares of NSE with a face value of ₹1 apiece at a weighted average selling price of ₹0.54 per share, according to the NSE IPO documents.

Shares of Bank of Baroda were trading in the green in the morning market hours on Thursday.

IFCI

IFCI is a majority shareholder (52.86%) in Stock Holding Corporation of India Ltd, an entity which is selling 6,187,500 equity shares of the National Stock Exchange with a face value of ₹1 each via the offer for sale (OFS) issue at a weighted average selling price of ₹0.46 per share.

Earlier reports suggest that Stock Holding Corporation of India holds around a 4.4% stake in NSE.

Hence, the NSE IPO opening for public bidding resulted in IFCI’s stock rising nearly 8% on Thursday’s market.

General Insurance Corp.

General Insurance Corporation of India is selling 6,187,500 equity shares via the NSE IPO at a face value of ₹1 each through the offer for sale. The stake sale is set to be at a weighted average selling price of ₹5.26 per share.

Shares of General Insurance Corp. surged 2.6% during Thursday’s market, as investors focused on the potential gains from the NSE IPO listing.

Check NSE IPO subscription

BSE IPO data showed that the NSE IPO has witnessed 30% subscription so far on Day 1, with investors bidding for 2,68,94,832 equity shares, out of the total 8,86,42,911 equity shares on offer after the anchor round.

QIBs have subscribed 18%, NIIs have bid for 43%, and retail investors have subscribed 32% so far, as per the exchange data.

NSE IPO details

National Stock Exchange of India Ltd is looking to raise more than ₹22,500 crore from the offer for sale (OFS) only initial public offering by offloading 12.64 crore equity shares held by corporate stakeholders.

The company has fixed the price band of the IPO at the range of ₹1,700 to ₹1,785 apiece with a lot size of 8 equity shares per lot.

NSE has reserved 50% of the public issue for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail bidders, as per the official filing.

Shares of the NSE IPO are expected to be allotted to investors on September 22, 2026, and the listing on the Bombay Stock Exchange is expected to be on September 24, 2026.