IFCI shares rally 6%, turn multibagger as NSE IPO gets SEBI nod. More upside ahead?

Sebi approved NSE’s draft offer document on Friday, according to its website. The IPO, expected to raise around Rs 30,000 crore, will comprise an offer-for-sale (OFS) of up to 14.89 crore equity shares.

IFCI shares jumped to Rs 107.36 apiece on Monday morning. IFCI owns more than a 50% stake in Stock Holding Corporation of India (SHCIL), which in turn, holds over 4% stake in NSE. Through its controlling interest in SHCIL, IFCI enjoys indirect exposure to NSE, making its stock particularly sensitive to developments related to the exchange’s IPO.

Key things to know about mega NSE IPO

NSE is yet to announce the IPO price band or issue date, but traders told The Economic Times that the issue is likely to open around September 18, with listing expected around September 25. The Economic Times, citing sources, reported that NSE is likely to price the IPO at around Rs 1,800 per share or slightly higher.
The filing would mark the culmination of a long listing process first initiated in December 2016, when NSE filed its first DRHP for a Rs 10,000-crore issue. Ahead of listing, the grey market premium (GMP) jumped to Rs 250-280 per share soon after the regulatory nod on Friday evening, from around Rs 150-180 earlier in the day, according to grey market brokers.

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“The valuation at which the offering is priced will be critical to how the market responds,” said Manan Doshi, co-founder of Unlisted Arena. “If the pricing leaves adequate value on the table for investors, it could significantly enhance investor participation and create strong positive sentiment around the issue,” he added.
Also Read: NSE grey market premium soars on Sebi’s IPO approval

IFCI share price

IFCI shares have delivered a whopping 100% return in 2026 so far, as the multibagger stock jumped over 43% in one month amid growing optimism over NSE IPO. The shares of the company have jumped over 18% in just one week.

In the longer term, IFCI shares have delivered stellar returns of more than 500% in three years and 850% in five years. The company has a market capitalisation of nearly Rs 28,700 crore.

Technical view on IFCI share price

IFCI remains in an uptrend, forming a higher high and higher low structure, said Sudeep Shah, Head of Technical and Derivatives Research at SBI Securities. He noted that the stock is trading above its key moving averages, while the rising ADX on both the weekly and daily timeframes indicates strengthening bullish momentum. The rising green histogram bars on the MACD further reinforce the positive bias, he added.

“The stock also closed above its previous swing high of 95.80 last week, signalling a breakout. The immediate support is placed in the Rs 96–95.5 zone. As long as the stock sustains above this support, the uptrend is likely to extend further,” the analyst said while explaining the technical charts of IFCI.

Also read | NSE IPO gets Sebi approval: 10 important points investors should know as D-Street debut inches closer

Disclosure: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an investment advisor. Debaroti Adhikary does not hold any financial interest in the company named in the article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of the EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.