Key Details on the NSE IPO: Everything You Need to Know About the Listing

The National Stock Exchange (NSE) has received SEBI’s observation letter for its proposed initial public offering (IPO), as per news reports.  

The exchange filed its Draft Red Herring Prospectus (DRHP) on June 17, 2026. It can now proceed with the remaining requirements before launching the issue. 

₹30,000 Crore Issue 

As per news reports, the IPO is likely to raise around ₹30,000 crore. If completed at that size, it would be larger than Hyundai Motor India’s ₹27,859-crore IPO in October 2024 and LIC’s ₹20,557-crore issue in May 2022. 

Existing Shares to be Sold 

The proposed IPO will be entirely an offer for sale (OFS). Existing shareholders will sell up to 149 million equity shares, representing about 6% of NSE’s paid-up equity capital. 

NSE will not issue fresh shares as part of the offering. Therefore, the exchange will not receive funds from the IPO, with the proceeds going to the shareholders selling their shares. 

Whereas the issue timelines and price band are yet to be disclosed. 

NSE Market Share and Financials 

NSE accounted for 92.99% of the cash equity market, 99.79% of equity futures, and 74.71% of equity options, according to its DRHP. Its share of exchange-traded currency futures stood at 99.48%. 

For FY26, total income declined to ₹18,713 crore from ₹19,177 crore. Profit after tax fell to ₹10,302 crore from ₹12,188 crore, while EBITDA declined to ₹11,098 crore from ₹12,647 crore. Net worth rose to ₹31,870 crore and NSE had no borrowings. 

Shareholders Selling in IPO 

State Bank of India (SBI) is likely to be the largest seller, with up to 24.8 million shares. Other selling shareholders include MS Strategic (Mauritius), Canada Pension Plan Investment Board, Aranda Investments, Bank of Baroda and Stock Holding Corporation of India, among others. 

NSE had planned an IPO in 2016 but withdrew the proposal following regulatory investigations related to its co-location and dark-fibre facilities. 

Read More: Bengaluru Sets $400 Billion Economy Goal by 2037; Targets 2-2.5 Million New Jobs! 

Conclusion 

The proposed issue follows NSE’s earlier unsuccessful listing attempt. The SEBI observation letter clears a key stage in the process, with the remaining steps to be completed before the IPO. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.