IFCI, New India Assurance Shares Rally as NSE IPO Opens for Subscription

17 Sep 2026 , 11:36 AM

Shares of IFCI Ltd and New India Assurance Company Ltd gained in early trade on September 17 as the much-awaited NSE IPO opened for public subscription. The ₹22,569-crore IPO has drawn attention to listed companies with direct or indirect exposure to the National Stock Exchange.

IFCI shares were trading at ₹75.96, up 1.33% on the NSE as of 11:30 AM. The stock opened at ₹75.21 and touched an intraday high of ₹80.97, while its low stood at ₹75.21.

Meanwhile, New India Assurance shares were trading at ₹190.24, up 3.28%. The stock opened at ₹186.50 and touched a high of ₹201.24 and a low of ₹186.50.

IFCI has indirect exposure to NSE through its stake in Stock Holding Corporation of India, which owns a stake in NSE. New India Assurance, meanwhile, holds a direct stake in the exchange and is among the shareholders selling shares through the NSE IPO’s Offer for Sale.

The NSE IPO opened on September 17 with a price band of ₹1,700–₹1,785 per share and will close on September 21. The unlisted NSE shares were reportedly trading at around a 7% grey-market premium over the IPO price, although GMP is an unofficial indicator and may not reflect the actual listing price.

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