The primary market is set for a busy week, with five major IPOs opening for subscription. The lineup includes NSE, Hero Motors, SS Retail, Jindal Supreme India and Sona Selection India. Together, these five issues could raise more than ₹24,300 crore from investors, with the much-awaited NSE IPO accounting for the overwhelming majority of the amount.
The NSE IPO will be the biggest issue among the five, with an offer size of about ₹22,561.57 crore at the upper price band. Hero Motors will raise ₹1,000 crore, SS Retail ₹500 crore, Jindal Supreme India ₹124.88 crore and Sona Selection India ₹141.57 crore.
Here is a look at the IPO dates, price bands, lot sizes, issue structures and available grey-market indications.
1. NSE IPO: ₹22,561.57 Crore Issue
The NSE IPO will open for subscription on September 17, 2026, and close on September 21. The price band has been fixed at ₹1,700–₹1,785 per share.
The IPO comprises an Offer for Sale (OFS) of up to 12.64 crore shares. There is no fresh issue, meaning NSE itself will not receive proceeds from the share sale. Existing shareholders are selling their stakes.
At the upper price band, one retail lot of 8 shares requires an investment of ₹14,280.
NSE IPO Key Details
IPO dates: September 17–21, 2026
Price band: ₹1,700–₹1,785
Lot size: 8 shares
Minimum retail investment: ₹14,280
Issue size: About ₹22,561.57 crore
Issue type: 100% OFS
Expected listing: September 24, 2026
The issue is expected to attract significant investor interest because of NSE's dominant position in India's equity and derivatives markets. However, investors should evaluate valuation, financial performance and regulatory risks rather than relying solely on grey-market indications.
2. Hero Motors IPO: ₹1,000 Crore
The Hero Motors IPO will open on September 16 and close on September 18, 2026. The company has fixed the price band at ₹79–₹84 per share.
The ₹1,000-crore issue consists of a ₹600-crore fresh issue and a ₹400-crore OFS. The lot size is 178 shares, taking the minimum retail investment to ₹14,952 at the upper price band.
Hero Motors IPO Key Details
IPO dates: September 16–18
Price band: ₹79–₹84
Lot size: 178 shares
Minimum investment: ₹14,952
Issue size: ₹1,000 crore
Fresh issue: ₹600 crore
OFS: ₹400 crore
Expected listing: September 23
Hero Motors operates in the automotive technology and powertrain solutions segment, serving automotive OEMs across India and international markets.
3. SS Retail IPO: ₹500 Crore
The SS Retail IPO will also open on September 16 and close on September 18.
The company has fixed the price band at ₹403–₹424 per share. This corrects the ₹79–₹84 figure mentioned in the draft.
The issue consists of a ₹360-crore fresh issue and a ₹140-crore OFS, taking the total issue size to ₹500 crore. The retail lot size is 35 shares, requiring ₹14,840 at the upper price band.
SS Retail IPO Key Details
IPO dates: September 16–18
Price band: ₹403–₹424
Lot size: 35 shares
Minimum investment: ₹14,840
Issue size: ₹500 crore
Fresh issue: ₹360 crore
OFS: ₹140 crore
Expected listing: September 23
SS Retail operates a multi-brand retail chain focused largely on mobile phones, accessories and other electronic products. Investors should also consider the company's concentration in Maharashtra and mobile-phone sales before making an investment decision.
4. Sona Selection India IPO: ₹141.57 Crore
The Sona Selection India IPO will open on September 17 and close on September 21, 2026.
The price band has been fixed at ₹94–₹99 per share, while the lot size is 150 shares. At the upper price band, the minimum investment works out to ₹14,850.
The company plans to raise approximately ₹141.57 crore through a fresh issue of 1.43 crore shares. There is no OFS component, meaning the issue proceeds will go to the company. The shares are expected to list on both the NSE and BSE on September 24.
Sona Selection IPO Key Details
IPO dates: September 17–21
Price band: ₹94–₹99
Lot size: 150 shares
Minimum investment: ₹14,850
Issue size: ₹141.57 crore
Fresh issue: 1.43 crore shares
OFS: None
Expected listing: September 24
Available grey-market data showed no GMP in the latest data checked, meaning there was no unofficial premium over the upper issue price at that point. GMP can change before listing and should not be treated as a guaranteed return.
5. Jindal Supreme India IPO: ₹124.88 Crore
The Jindal Supreme India IPO will open on September 16 and close on September 18.
The company has fixed the price band at ₹88–₹93 per share. The lot size is 161 shares, requiring a minimum investment of ₹14,973 at the upper price band.
The ₹124.88-crore issue includes a fresh issue of about ₹99.89 crore and an OFS of ₹24.99 crore. The shares are expected to list on September 23.
Jindal Supreme IPO Key Details
IPO dates: September 16–18
Price band: ₹88–₹93
Lot size: 161 shares
Minimum investment: ₹14,973
Issue size: ₹124.88 crore
Fresh issue: About ₹99.89 crore
OFS: About ₹24.99 crore
Expected listing: September 23
Jindal Supreme manufactures steel pipes, tubes, crash barriers and GI tubular poles, with its products serving infrastructure and industrial applications.
IPO GMP: Can Investors Rely on Grey-Market Premium?
The Grey Market Premium (GMP) is an unofficial indicator of market sentiment before an IPO lists. It can provide an indication of how the issue is being viewed by some market participants, but it is not an official exchange figure and does not guarantee listing gains.
For example, the latest available SS Retail GMP data checked showed ₹80, implying a theoretical listing price of around ₹504 against the ₹424 upper price band. However, such estimates can change rapidly before listing.
Therefore, investors should not subscribe to an IPO solely because its GMP is high. Financial performance, valuation, business prospects, debt, promoter holding and the purpose of the issue should also be considered.
Fresh Issue vs OFS vs GMP: Know the Difference
Fresh Issue: New shares are issued by the company. The money raised goes to the company and can be used for expansion, debt repayment, working capital or other stated purposes.
Offer for Sale (OFS): Existing shareholders sell their shares. The proceeds go to those selling shareholders rather than the company.
GMP: Grey Market Premium is an unofficial pre-listing market indicator. It reflects demand in the unofficial market but is not a guarantee of the actual listing price or return.
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