NSE Set to Adjust IPO Size to ₹23,500 Crore in Updated SEBI Submission

The National Stock Exchange (NSE) has amended its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to reflect a reduced initial public offering (IPO) size of ₹23,500 crore, as per The Economic Times news report.  

This reduction is from the previously intended ₹30,000 crore. 

NSE’s Revised IPO Details 

As per the news report, The NSE’s updated DRHP filing with SEBI proposes a decrease in the IPO size to a range of ₹22,500 to ₹23,500 crore representing a decrease of 21.67% to 25.00% from the initial plan of ₹30,000 crore,  

The offer for sale (OFS) by existing shareholders is adjusted to 5.25% of the exchange's paid-up capital, as opposed to the earlier plan of approximately 6%.  

Initially, NSE proposed an OFS of up to 14.89 crore shares, but the revised number stands at 12.64 crore shares in the updated draft, as per the news report. 

Timeline for Launch 

As per news report, NSE is targeting to launch the IPO in the third week starting from September 18, 2026, to September 22, 2026, with share listings anticipated in the fourth week which is expected to be on September 25, 2026. The issue is expected to open for anchor investors on September 17, 2026. 

Comparing IPO Records 

Originally, NSE's IPO at ₹30,000 crore was poised to become India’s largest, surpassing Hyundai Motor India's ₹27,870-crore IPO in October 2024.  

The reduction in size means Hyundai Motor India's IPO retains the record until Jio Platforms launches its proposed ₹37,000-crore IPO during the Q3 FY27. 

Read More: NSE Plans to Lower IPO Price Range; Drops Mega-Listing Bid for Upcoming OFS! 

What a Reduction in Size Means for Investors? 

The updated OFS and IPO size suggest a strategic shift to accommodate market conditions and investor demand. NSE’s shareholders will now see a decrease in their offering percentage in response to these factors. 

Conclusion 

As per news report, The NSE has revised its IPO size to ₹23,500 crore from its earlier plan of ₹30,000 crore. Existing shareholders will reduce their offer from 6% to 5.25% of the paid-up capital. The IPO aims for a September launch. 

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