NSE IPO Listing Likely in September as SEBI May Clear DRHP Next Month: Reports

The National Stock Exchange (NSE) could finally make its long-awaited stock market debut in September 2026, nearly a decade after first filing for an initial public offering (IPO). According to news reports by NDTV Profit, the exchange is awaiting approval from the Securities and Exchange Board of India (SEBI) for its draft red herring prospectus (DRHP), with the regulator expected to clear it by mid-August.

If the approval comes through as expected, the exchange could proceed with its IPO and list its shares on the stock exchanges as early as September, subject to market conditions.

SEBI Approval Could Clear the Path for NSE IPO

As per NDTV Profit, NSE has already begun conducting international roadshows and is engaging domestic institutional investors ahead of the proposed IPO. These interactions are aimed at gauging investor appetite and supporting price discovery for the issue.

However, the final valuation, issue size and listing timeline will depend on investor feedback and prevailing market conditions.

NSE filed its DRHP with SEBI on June 17, 2026. The proposed IPO is entirely an Offer for Sale (OFS) of 14.89 crore shares, meaning the exchange will not receive any proceeds from the issue.

Co-Location Case Settlement May Be Announced Soon

Another key development that could support the IPO is the expected conclusion of the long-pending NSE co-location case. According to NDTV Profit, SEBI is likely to issue its final settlement order soon, with the settlement amount expected to be more than ₹1,400 crore.

The co-location controversy dates back to 2015, when allegations surfaced that certain trading firms received preferential access to NSE's servers, giving them an unfair trading advantage. The regulatory scrutiny that followed delayed the exchange's IPO plans for several years.

SBI to Sell Shares, LIC to Stay Out

The proposed IPO will see existing shareholders sell part of their holdings. State Bank of India (SBI) is expected to be the largest selling shareholder, planning to offload 2.475 crore shares. Meanwhile, Life Insurance Corporation of India (LIC), the exchange's largest shareholder, will not participate in the offer for sale.

Conclusion

According to NDTV Profit reports, NSE's IPO is entering its final phase, with SEBI's approval expected in August and the co-location case nearing settlement. If the regulatory process proceeds as anticipated, the exchange could achieve its long-awaited September 2026 listing, marking a significant milestone in India's capital markets. Investors will now closely track SEBI's decision and the official IPO timeline in the coming weeks.

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