Shares of National Stock Exchange of India Ltd. (NSE) jumped over 5% during intraday trade on Thursday (September 24, 2026) after a muted debut and entered the elite club of top-10 most valued firms by market valuation.

The exchange started trading at ₹1,800, marginally up by 0.84% from the issue price of ₹1,785 on the BSE. Further in the trade, shares of the exchange surged 5.21% to ₹1,878.

NSE commanded a market valuation of ₹4,54,966.88 crore. With this the exchange entered the elite club of top-10 most valued firms by market valuation on the BSE.

In the top-10 chart, Reliance Industries commanded a market valuation of ₹16,67,750.07 crore, followed by Bharti Airtel ₹11,32,338.92 crore, HDFC Bank ₹11,26,035.78 crore, ICICI Bank ₹9,57,570.88 crore, SBI ₹9,12,415.14 crore, TCS ₹7,57,627.53 crore, Bajaj Finance ₹6,15,435.85 crore, Larsen & Toubro ₹5,32,457.60 crore, LIC ₹5,13,716.31 crore and NSE ₹4,54,966.88 crore, as per BSE data.

NSE stands at the tenth place in the ranking of most valued firms.

It is ahead of Hindustan Unilever, whose market capitalisation (mcap) is ₹4,54,845.62 crore and Sun Pharma at ₹4,46,985.57 crore.

Peer BSE has a market valuation of ₹1,31,946.42 crore.

The ₹22,569-crore initial public offering of NSE, the country’s second-largest IPO, received nearly 6 times subscription on the final day of bidding on Monday (September 21), led by strong demand from institutional buyers.

The offering was India’s second-largest public issue after Hyundai Motor India’s ₹27,870-crore IPO in 2024. The IPO surpassed LIC’s ₹21,000 crore offering in 2022.

The public issue marked a significant milestone for the NSE, whose listing plans had remained stalled for nearly a decade amid regulatory hurdles, including those linked to the co-location controversy.

The mega IPO generated nearly ₹90,300 crore of demand against the ₹22,568 crore issue size.

The IPO had an Offer for Sale (OFS) of up to 12.64 crore equity shares by existing shareholders.

The exchange had fixed a price band of ₹1,700-1,785 per equity share for the IPO.

NSE was incorporated in 1992 and recognised as a stock exchange by SEBI in April 1993. It commenced operations in 1994 with the launch of the wholesale debt market, followed shortly after by the launch of the cash market segment.