Is unlisted investing a lottery? The story of a NSE investor who bought shares at Rs 1,827

NSE’s IPO price band of Rs 1,700-1,785 is below earlier unlisted-market expectations, offering a reality check for investors who bought the exchange’s shares at higher prices. While NSE’s dominant market position and strong fundamentals could support demand, experts caution that unlisted shares carry liquidity and valuation risks, with pre-IPO prices often reflecting scarcity and expectations rather than fair value.