NSE IPO: Boart to Meet on February 6 to Form the IPO Committee

The National Stock Exchange (NSE) has received a no-objection certificate from the Securities and Exchange Board of India (SEBI), allowing it to restart its initial public offering (IPO) plans after nearly a decade.  

Board Meeting on February 6 

As per PTI report, following the regulatory clearance, the NSE board is scheduled to meet on February 6, 2026, to consider steps related to the proposed listing. One of the main items on the agenda is the formation of a dedicated IPO committee. 

The committee is expected to function as the central body overseeing decisions related to the public offer. It will also handle matters connected to the structure and execution of the issue. 

The exchange had first filed draft documents in 2016 for an offer for sale of about ₹10,000 crore, but the proposal was held back due to governance issues linked to the co-location matter. 

Role of the Proposed Committee 

The panel is likely to frame the listing structure and set the criteria for appointing merchant bankers and legal advisers. These entities will prepare the draft red herring prospectus (DRHP), which is required for regulatory review. 

During the same meeting, the board is also expected to review the exchange’s unaudited financial results for the quarter and nine months ended December 2025. 

In June 2025, NSE filed a settlement application in the case. It later offered ₹1,388 crore to resolve the matter, after which SEBI granted in-principle approval and issued the clearance required to move forward. 

Shareholding and Issue Size 

The proposed public issue is expected to be among the largest in the domestic capital markets. NSE currently has around 1.77 lakh shareholders. 

The exchange is estimated to carry a grey-market valuation of more than ₹5 lakh crore. As per the report, the DRHP could be filed within 4 months of receiving the no-objection certificate, with the IPO likely several months after that, subject to approvals. 

NSE Financial Performance 

For the September quarter of FY26, NSE reported consolidated profit after tax of ₹2,098 crore, compared with ₹3,137 crore in the same period last year. Excluding a ₹1,297 crore provision linked to settlement matters, adjusted profit stood at ₹3,396 crore. 

Total income for the quarter was ₹4,160 crore, down from ₹5,023 crore a year earlier. In the first half of FY26, the exchange contributed ₹28,308 crore to the exchequer through various taxes and duties. 

Read More:  NSE IPO Share Sale: Temasek, LIC and SBI Prepare to Offload Stakes! 

Conclusion 

The February board meeting is expected to formalise the initial steps towards the exchange’s listing, with the proposed committee set to handle the next stages of the IPO process. 

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