# NSE IPO Approaches: Should Investors Buy Unlisted Shares Now? Pre-IPO share prices and investor strategies for India's National Stock Exchange - **Source:** [Economic Times](https://brifing.si/source/37791137-c35a-4ffe-b6a9-fe103afc9e48) - **Published:** 2026-08-25 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/39a0a875-e96a-4366-ac3d-d7c0696cad6f ## Countdown to NSE's IPO India's National Stock Exchange (NSE) is expected to launch its initial public offering (IPO) in the second half of September 2026. This will be one of the largest IPOs in the country's financial markets in recent years. NSE's unlisted shares are currently trading around ₹2,015. Over the past year, the shares have traded in a range of ₹1,800 to ₹2,150 in the grey market. ## Grey Market Dynamics NSE's grey market share prices remain close to levels when the exchange filed its Draft Red Herring Prospectus (DRHP). Experts warn that speculative activity before the IPO could impact prices. The low liquidity in grey market transactions presents both risks and opportunities for investors. ## Investor Dilemma Investors face the choice of buying shares in the grey market now to potentially benefit from IPO premiums, or waiting for the public offering which may be safer but likely at higher prices. Seasoned investors caution about the unregulated nature of grey market trading. ## IPO Expectations Analysts predict NSE's IPO will be a milestone for India's financial markets. The exchange is expected to be valued between $11-12 billion, which would make it one of the world's most valuable stock exchanges. The offering is being closely watched by global investors. ## Historical Performance NSE has recorded average profit growth of 18% over the past five years, with net profit margins around 55%. This strong financial performance is boosting investor interest in the IPO. However, global market volatility could impact pricing. ## Regulatory Environment India's Securities and Exchange Board (SEBI) is closely monitoring NSE's IPO process. Additional safeguards are being implemented due to governance issues the exchange faced in 2015. Regulatory factors could influence both the timing and pricing of the offering. ## Global Exchange Comparison NSE's IPO will enable valuation comparisons with global exchange giants like CME Group and Intercontinental Exchange. While NSE ranks among the world's largest exchanges by trading volume, its profitability and growth metrics differ from international peers. ## Investment Strategy Recommendations Experts advise potential NSE investors to align their approach with their risk appetite and investment horizon. While the grey market may appear attractive for short-term speculative plays, long-term investors might prefer waiting for the IPO. Consulting financial advisors before making decisions is strongly recommended. ## Sources covering this story - https://economictimes.indiatimes.com/markets/ipos/fpos/nse-ipo-coming-soon-should-investors-buy-unlisted-shares-now-or-wait-for-the-mega-issue/articleshow/133499038.cms — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._