Life Insurance Corporation of India (LIC) has seen a sharp rise in the value of its investment in the National Stock Exchange (NSE), making it LIC’s fifth most valuable holding. This comes amid growing anticipation around NSE’s long-awaited Initial Public Offering (IPO) and progress on resolving key regulatory issues.
As of March 2025, LIC holds a 10.7% stake in NSE, amounting to 26.53 crore shares. At a current unlisted market price of ₹2,500 per share, the investment is valued at over ₹66,319 crore.
This places NSE just behind LIC’s top four holdings—Reliance Industries (₹1.34 lakh crore), ITC (₹80,874 crore), HDFC Bank (₹72,180 crore), and SBI (₹68,031 crore). Other notable holdings include L&T (₹66,272 crore) and Infosys (₹62,432 crore). LIC’s entire equity portfolio spans 351 stocks, valued at approximately ₹15.18 lakh crore.
Other major NSE stakeholders include Stock Holding Corporation of India (worth ₹27,500 crore), SBI (₹19,961 crore), and investor Radhakishan Damani (₹9,771 crore).
NSE’s estimated valuation has climbed to ₹5.7 lakh crore, placing it among India’s 10 most valuable companies—despite not being publicly listed. The unlisted share price has surged over 50% in the past month, driven by renewed IPO optimism.
Adding to the positive sentiment, NSE has taken steps to settle long-pending regulatory issues. On June 20, the exchange filed a consent application with SEBI for the co-location and dark fiber cases, offering to pay ₹1,388 crore. If accepted, SEBI may issue a No-Objection Certificate (NOC) by late July or August.
The cases involve allegations of unfair access provided to select brokers via closer server placement (co-location) and high-speed data lines (dark fiber).
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The growing value of LIC’s stake in NSE reflects rising investor confidence in the exchange’s future. With regulatory clarity, a potential resolution of long-pending legal cases, and SEBI’s positive stance on the IPO, NSE is well-positioned to make its market debut. If the IPO proceeds as expected, it could mark a major milestone for India’s financial markets.
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.
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Published on: Jul 2, 2025, 12:36 PM IST
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