NSE IPO: Company Plans to File Draft Prospectus by March 2026

 As per Reuters report, India's largest stock exchange, the National Stock Exchange (NSE), is taking key steps towards a long-anticipated public listing.  

It plans to submit its draft prospectus for the initial public offering (IPO) by the end of March 2026, following years of delays due to regulatory investigations. 

NSE Prepares IPO Proposal Amid Regulatory Clearance Process 

The National Stock Exchange of India Ltd is working closely with investment bankers and legal firms to finalise the draft red herring prospectus. Sources have confirmed that formal appointments will follow after the Securities and Exchange Board of India (SEBI) issues a no-objection certificate.  

The exchange has not yet disclosed the portion of equity it aims to list. As per unlisted trading platforms, NSE's valuation is pegged at approximately $55 billion or ₹5,00,000 crore. 

Background to Awaited Public Offering 

NSE has been pursuing a public listing since 2016. However, progress was halted due to regulatory scrutiny over fair market access practices at its co-location facilities. The matter remains under review at the Supreme Court.  

In an effort to resolve the issue, NSE proposed a settlement of ₹1,387 crore in 2025, which is still under SEBI's consideration. 

Read More: NSE, IGX in Talks to Collaborate and Launch Indian Natural Gas Futures Contract! 

Large Shareholder Base Adds to Listing Complexity 

Today, NSE has around 1,77,807 shareholders, making it the biggest unlisted firm in India by investor count. Legal advisers drafting the IPO documents are reportedly working on mechanisms to ensure equitable exit paths for investors.  

As per the report, prioritisation may be granted to banks and long-term foreign institutional shareholders. Major institutional investors include Life Insurance Corporation of India, State Bank of India, Temasek Holdings, Morgan Stanley, and Canada Pension Plan Investment Board. 

Conclusion 

The National Stock Exchange has initiated substantial progress towards filing its IPO papers by the end of March 2026. Ongoing consultations with financial and legal experts continue as the exchange moves forward in its listing process, awaiting SEBI’s clearance. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or 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.