NSE IPO: Radhakishan Damani Set for Another Billion-Dollar Payday

Ace investor and DMart founder Radhakishan Damani is on track for a major financial windfall, thanks to his timely and strategic investment in the National Stock Exchange (NSE)—a stake now valued at nearly ₹9,300 crore in the unlisted market.

With the NSE preparing to file for its long-awaited initial public offering (IPO) by the end of July, Damani’s 1.58% holding—roughly 3.91 crore shares—has become his second-largest listed investment after Avenue Supermarts, according to a recent report by News18.

Historic SEBI Settlement Clears Path for IPO

In a major regulatory breakthrough, NSE has submitted a record ₹1,388 crore settlement application to SEBI to resolve legacy issues tied to the co-location and dark fibre cases. This is the largest settlement proposal ever made to the regulator and is seen as a critical step forward for the IPO process.

Damani quietly acquired his NSE stake in early 2020, buying shares from Norwest Venture Partners. With grey market prices hovering around ₹2,300 per share, the value of his investment has soared, drawing sharp interest from investors ahead of a potential Q4 FY26 listing.

Outshining Other Portfolio Holdings

Damani's NSE investment now surpasses his stakes in Trent (₹2,788 crore) and VST Industries (₹1,560 crore), firmly establishing NSE as a key wealth driver in his portfolio. Analysts attribute this optimism to NSE’s dominant position in the cash equity market, its strong financials, and the regulatory green light for its IPO.

Strong Financials Support Market Buzz

For FY25, NSE reported a 47% rise in net profit, reaching ₹12,188 crore, underscoring its robust financial health. The exchange’s board has also proposed a final dividend of ₹35 per share, which includes a special one-time payout of ₹11.46, pending shareholder approval.

Annual Report: Why Is the NSE IPO on Hold? Key Hurdles Behind the Delay

NSE Listing to Further Elevate Damani’s Net Worth

While his over ₹1.90 lakh crore holding in DMart remains the crown jewel of his portfolio, the NSE listing could significantly amplify Damani’s net worth. Even a partial stake sale during the IPO may result in a substantial cash inflow, once again highlighting his impeccable market timing and long-term vision.

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