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MSEI unlisted share price jumps 30% in 1 week: 3 new initiatives explained. ShareSaathi Intelligence Head of Research The MSEI unlisted share price on ShareSaathi sat at ₹5.75 through 10 September 2026, then printed ₹6.75, ₹7.25 and ₹7.75 over the next four sessions - a 35% move in a week. Other unlisted desks quoted a similar jump, from about ₹5.75 to ₹7.46 (nearly 30%). The move is not a listing pop. Metropolitan Stock Exchange of India Limited (MSEI) is itself unlisted. The print is an off-market ask for existing equity (ISIN INE312K01010), not an NSE or BSE last price, and it is not NSE India Limited. Confirm the name before you send a quantity: NSE vs MSEI unlisted shares. What changed is the tape around the exchange, not a new earnings print. Three overlapping initiatives - retail-broker testing, a tokenised-bond pilot on MSE's Electronic Bond Platform, and a planned F&O push - landed in the same week as a visible pickup in cash-market turnover. Sentiment has improved. Proven revenue has not. The thesis. MSEI is trying to become a usable third exchange rather than a licence that barely trades. Liquidity has always been the constraint. If large retail brokers route cash-market orders onto MSE, and if volumes hold once market-maker support is less visible, the business case for listing fees, transaction charges and a later derivatives book gets less theoretical. That is the bull case sitting in the unlisted print. It is still a case about potential. MSEI's own P&L remains a thin-revenue, loss-making market-infrastructure book, not NSE's toll-gate. 1. Groww and Zerodha are testing cash-market integration - not live yet. A Moneycontrol report, as carried by Free Press Journal and 5paisa, said Groww and Zerodha are testing technical integration with MSE so their customers can access the exchange's cash market. Other large retail brokers may follow. The work is expected to take about three to four months, and brokers still have to change product flows before anything is opened to clients. This is not a confirmed launch. It is a test. If it does go live, the distribution math is obvious. MSE's cash book today is supported mainly by proprietary desks and brokers such as Zanskar and Jainam, plus a market maker. Daily turnover has recently run around ₹400-500 crore including that market-maker activity. Putting Groww and Zerodha's retail order flow onto a third venue would widen who can send a trade. Do not mix this up with the capital raise. MSEI raised about ₹1,238-1,240 crore across two rounds - roughly ₹238 crore around December 2024 / January 2025 and ₹1,000 crore in August 2025 - with participation from Groww's parent Billionbrains Garage Ventures, Zerodha's Rainmatter, Share India and others. Those firms are already shareholders. Testing a trading integration is a separate, later question: whether their customers will be allowed to route orders to MSE. 2. Demat 2.0 gives MSE a debt-market seat, not ₹1,025 crore of revenue. On 11 September 2026, MSE said its Electronic Bond Platform (EBP) had carried a tokenised corporate-bond issuance by IIFL Finance under SEBI's Demat 2.0 pilot. Trust Investment Advisors acted as arranger. The Hindu Business Line reported the IIFL paper as MSE's first tokenised corporate bond on the platform: issued natively on a distributed ledger, with ownership records at the statutory depositories and settlement in the RBI's e₹ (CBDC). SEBI's 10 September 2026 press release (PR 56/2026) is the official scoreboard. Three issuers have so far placed tokenised corporate bonds totalling ₹1,025 crore: * REC Limited: ₹500 crore on 7 September 2026 (18 investors) * Larsen & Toubro: ₹500 crore on 9 September 2026 (4 investors) * IIFL Finance: ₹25 crore on 9 September 2026 (1 investor) That ₹1,025 crore is the combined issue size across the pilot. It is not MSEI's transaction value, not exchange revenue, and not a valuation input you can multiply through. IIFL's own allotment was 2,500 secured NCDs of ₹1 lakh each, 9.10% coupon, two-year tenor. SEBI is explicit that Demat 2.0 is a phased sandbox. Later stages are meant to extend into buying and selling on existing RFQ platforms and, further out, retail access. For now, investors hold the tokens in an existing demat account after enabling Demat 2.0 with the depository, and settle the funds leg in a wholesale CBDC wallet. The strategic point for unlisted MSEI buyers is narrower: the exchange is building a debt-market infrastructure line next to cash equities. If tokenised issuance and digital debt rails expand under SEBI's watch, MSE's EBP is a seat at that table. It is still a pilot. 3. Derivatives are on the calendar only after cash volumes stick. MSEI is also preparing to expand futures and options. Coverage of the same broker-integration report says the F&O rollout is aimed at roughly the same three-to-four-month window - but only after the cash market first shows healthy, sustainable volumes. That sequencing is the right way to read it. An empty cash book plus a new F&O segment would be a licence, not a business. If activity develops in both cash and derivatives, MSEI has more than one way to attract traders and take exchange fees. If cash volumes fade once market-maker support is less visible, the F&O date slips with it. Cash-market turnover has actually picked up. This is the one change you can check on the exchange's own tape. MSE's official trade summary for early September 2026 shows 147-148 securities trading each day, with traded value mostly between about ₹380 crore and ₹600 crore. On 9 September it printed ₹605.51 crore (₹60,550.91 lakh). | Trade date | Securities | Trades | Traded value (₹ cr) | | 11 Sep 2026 | 147 | 1,20,492 | 546.08 | | 10 Sep 2026 | 148 | 1,04,293 | 502.64 | | 09 Sep 2026 | 148 | 1,27,366 | 605.51 | | 08 Sep 2026 | 148 | 80,852 | 381.71 | | 07 Sep 2026 | 147 | 93,770 | 437.17 | | 04 Sep 2026 | 147 | 1,01,704 | 489.35 | For a smaller exchange, this is the first question that has to be answered: is anyone actually trading? Higher turnover does not by itself mean MSEI will earn NSE-like fees, but it is a better starting point than a dark tape. Valuation mechanics. The live MSEI unlisted share price on ShareSaathi is ₹7.75 as of 15 September 2026 IST. Lot size 2,500 shares (minimum about ₹19,375). ISIN INE312K01010. Face value ₹1. The 52-week range on the page is ₹2.75-₹8.90, so this week's print is a rebound inside an already wide band, not a breakout into new territory. Settlement is an off-market demat transfer after KYC, typically T+1, through KFin as RTA. It is not an exchange order. If MSEI ever lists, pre-IPO lots usually sit in a six-month SEBI lock-in from the listing date. There is no announced IPO timetable. Unlisted prices vary by desk. ShareSaathi's series held ₹5.75 from late August through 10 September, then stepped to ₹6.75 (11 Sep), ₹7.25 (12-13 Sep) and ₹7.75 (14-15 Sep). Treat any single print as indicative. Risk assessment. * Broker access is not live. Groww/Zerodha integration is a test with a three-to-four-month clock. Product changes can slip. * Volumes include a market maker. Strip that out and the organic book may look thinner. * Demat 2.0 is a sandbox. The ₹1,025 crore headline is other issuers' bond raises, not MSEI revenue. * F&O depends on cash. The derivatives date is a follow-on, not a parallel certainty. * Third-exchange economics. NSE and BSE still dominate. MSEI has to win flow, not announcements. * The exchange is still a turnaround. Reported returns have been negative; unlisted paper is illiquid with wide spreads. A future listing can re-price the name down as well as up. What comes next for the MSEI share price. The week has given unlisted buyers a cleaner story: retail distribution being tested, a debt-market pilot with a real issuer on MSE's EBP, a derivatives plan, and cash turnover that actually printed above ₹600 crore on 9 September. The real test is conversion. Watch whether daily value stays in the ₹400-600 crore zone without fading, whether Groww and Zerodha actually open MSE to clients, and whether any of that shows up in exchange revenue rather than in the unlisted ask. For now the MSEI investment case is about potential, not proven earnings. Check the live figure, lot and ISIN on the MSEI unlisted share price page before you act. Disclaimer: Unlisted shares are illiquid and prices are indicative, not exchange-quoted. A listing is never guaranteed. ShareSaathi settles confirmed lots off-market to your demat; this is information, not investment advice. Related investment opportunities. Invest in the source. Its analysts track these companies 24/7. Don't just read the news - own the upside.

ET Startup Awards 2026: Groww adjudged no. 1; Sauce VC's Manu Chandra named Midas Touch winner. ET TEAM Last Updated: Aug 27, 2026, 06:00:00 AM IST Synopsis. The elite jury was chaired by Wipro executive chairman Rishad Premji. The 11-member panel deliberated for nearly three hours on Tuesday to pick winners in eight categories. Wealthtech platform Groww won the coveted Startup of the Year at the 12th edition of The Economic Times Startup Awards, beating back a stiff challenge from other pioneers Meesho, Skyroot, Porter, Rapido and Sarvam. The elite jury, chaired by Wipro executive chairman Rishad Premji, picked Manu Chandra, founder and managing partner at consumer-focused investment firm Sauce VC, for the high-profile Midas Touch award. The Woman Ahead category saw joint winners for the first time, with the jury picking both Pallavi Mohadikar, cofounder and chief executive of Palmonas, and Progcap cofounder and CEO Pallavi Shrivastava, after intense debate. You May Like The 11-member jury deliberated for nearly three hours on Tuesday to pick winners in eight categories. Online yoga platform Habuild was this year's Bootstrap Champ; cleantech startup Varaha bagged the Social Enterprise award; Mukund Jha was named Comeback Kid; deeptech startup Theranautilus was adjudged winner in the Top Innovator category; and Best on Campus award was won by Armatrix. Founded by Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh in 2016, the publicly listed Groww joins an exclusive club of winners of the top prize that includes Urban Company, Lenskart, Zomato (now Eternal), Delhivery, Razorpay, OfBusiness and Swiggy. Besides Groww, six previous winners of the Startup of the Year prize - Urban Company, Zomato, Delhivery, Freshworks, Lenskart and Swiggy - are now listed on the exchanges, showcasing the award's ability to spot blue-chip enterprises well before they bloom. Premji was joined on the jury by Sachin Bansal, cofounder, Flipkart and Navi; Vijay Shekhar Sharma, founder and chief executive, Paytm; Mukesh Bansal, cofounder, Myntra and Curefit; Mithun Sacheti, cofounder, CaratLane; Nandita Sinha, CEO, Swiggy Instamart; Ajit Mohan, chief business officer, Snap Inc; Irina Ghose, managing director, Anthropic India; Paras Chopra, founder, Wingify and Lossfunk; Abhiraj Singh Bhal, cofounder and chief executive, Urban Company; and Aryaman Vikram Birla, director, Aditya Birla Group. The diverse jury recognised Groww's scale, profitability and accelerating growth to emerge as India's biggest stockbroking and investment platform. Jurors underscored how the Bengaluru-headquartered company has built a large business in an intensely competitive industry that is also highly regulated. The jury extensively debated Meesho and Skyroot before picking Groww in a secret electronic vote. The outcome of that debate was a fine balance that recognised technology buildout and, at the same time, the ability to scale up while being profitable, one of the jurors said. Chandra won the coveted Midas Touch award for his early and high-conviction bets on consumer brands that have resulted in multiple cash exits. This includes an 8-10x return on exiting skincare brand Innovist when it was acquired by French beauty major L'Oréal in June. "The discussions were very rich and open. There were such diverse points of views... and I was more than surprised with the quality of discussion and openness," said Premji after the jury meeting. "I think startups have matured significantly over the years. The opportunity for them to think longer term and raise long-term capital to address some of the most challenging problems in the country and the world is incredible to see. They are really maturing." Habuild won this year's Bootstrap Champ prize, with the jury highlighting its sustainable scaling - achieved over the years without burning capital on marketing and customer acquisition. Started as an attempt to make yoga more accessible to the masses, Habuild has grown into one of India's largest digital wellness platforms, without raising any external capital. The Woman Ahead contest was a tie between two entrepreneurs. Mohadikar won the jury's nod for scaling up a demi-fine jewellery brand in a space that is still largely untapped, while Shrivastava was appreciated for building a sustainable supply chain financing business in an industry that is complex from a regulatory as well as competitive perspective. Varaha won the Social Enterprise award for its 'double bottomline' focus - building a business model while contributing to the resolution of a key climate change issue, reducing carbon dioxide levels, by working with small farmers. Mukund Jha was named Comeback Kid this year for his second act - after the scars of Dunzo's high-profile failure faded - at Emergent, as the jury recognised that his bold bet on artificial intelligence on the global stage stood out. Deeptech startup Theranautilus was adjudged the winner in the Top Innovator category for its work on microscopic robots that can navigate inside the human body to perform targeted, minimally invasive treatments. The Best on Campus award was won by Armatrix, which was founded in 2024 at IIT Kanpur. The startup is building snake-like robotic arms that can navigate confined industrial spaces. For this year's ETSA, while looking at scale and profitability, the jury also paid heed to governance practices, wider societal impact and employment generation. The initial pool of candidates was created after reaching out to about 200 founders, investors and other stakeholders from India's startup ecosystem. ET's editorial team then conducted research on these nominations to compile the final shortlist. The Economic Times Startup Awards 2026 is presented by IDFC First Bank, with Tracxn as the knowledge partner. Add as a Reliable and Trusted News Source

Billionbrains Garage Ventures, Groww's parent company, saw 12.74 crore shares, representing 2.1% equity worth ₹2,500 crore, change hands in block deals on Wednesday. The buyers and sellers remain unidentified. CNBC-TV18 reported on Tuesday that Ribbit Capital had launched a block deal to sell a 1.6% stake for ₹1,914 crore at a floor price of ₹195 per share. The transaction would allow Ribbit to partially monetise its investment whilst retaining remaining holdings. Ribbit Capital held 5.64% stake as of June. Groww reported first quarter revenue of ₹1,501 crore, flat sequentially, with net profit rising 7% to ₹735 crore. EBITDA increased 3.4% to ₹970 crore.