The National Stock Exchange (NSE) has set the price band for its much-awaited IPO, which will open for subscription on Thursday, September 17, and close on Monday, September 21.The exchange has fixed the IPO price band at Rs 1,700 to Rs 1,785 per share, with each share carrying a face value of Rs 1. The lot size has been set at eight shares, meaning retail investors will need to invest a minimum of Rs 14,280 to bid for one lot. Further bids will have to be made in multiples of eight shares.NSE IPO price band detailsRetail investors have been allocated 35% of the issue, while 50% has been reserved for eligible institutional bidders (QIBs). The remaining portion will be available to non-institutional investors (NIIs).At the upper end of the price band, the NSE IPO will be valued at Rs 22,561.57 crore, making it the second-largest IPO in Indian history. At this price, NSE will have a market capitalisation of Rs 4.41 lakh crore. Eligible employees participating in the IPO will receive a discount of Rs 170 per share.Its selling shareholders in the offer for sale include SBI, Canada Pension Plan Investment Board, Aranda Investments (Mauritius) Pte. Ltd., MS Strategic Mauritius Ltd., New India Assurance, SBI Capital Markets, Bank of Baroda, Stock Holding Corporation of India, General Insurance Corporation of India and United India Insurance Company.The IPO is entirely an Offer For Sale (OFS), which means NSE itself will not receive any proceeds from the share sale.NSE IPO bankers and lead managersKotak Capital, JM Financial, Morgan Stanley India, Citigroup, HSBC Securities, JPMorgan India, SBI Capital, Anand Rathi Advisors, Avendus Capital, Axis Capital, DAM Capital, Equirus Capital, HDFC Bank, ICICI Securities, IDBI Capital, IIFL Capital, Motilal Oswal, Nuvama Wealth, Pantomath Capital and 360 ONE WAM are the book running lead managers for the IPO.When will NSE shares list?NSE shares will be listed on the Bombay Stock Exchange. Allotment for eligible shareholders is scheduled to be determined by September 22, while the shares are expected to be credited to the demat accounts of eligible shareholders on September 23.The shares will list on the bourses on September 24.NSE IPO size trimmedMeanwhile, NSE has cut the size of its proposed IPO offer for sale by around 15%, with several shareholders reducing the number of shares they intend to sell, according to the red herring prospectus (RHP) filed on September 10.The total OFS has been reduced to up to 12.64 crore shares from the 14.89 crore shares proposed in the UDRHP. This represents a reduction of around 2.25 crore shares.The entire reduction has come from eight sellers. MS Strategic (Mauritius) has reduced its offer by 0.50 crore shares, while Stock Holding Corporation of India has cut its proposed sale by 0.47 crore shares. General Insurance Corporation of India has reduced its offer by 0.45 crore shares, Bank of Baroda by 0.33 crore shares and National Insurance Company by 0.20 crore shares.Mahagony Limited has lowered its proposed sale by 0.20 crore shares, while Indian Bank has reduced its offer by 0.10 crore shares. Individual shareholder Amit Kumar Lohia has withdrawn from the OFS entirely, removing 25,000 shares from the proposed sale. Together, these eight sellers account for the full 2.25 crore-share reduction in the OFS.Canada Pension Plan Investment Board, Aranda Investments (Mauritius) and TA Asia Pacific Acquisitions, however, have kept their proposed sale quantities unchanged.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)