New India Assurance share price surged around 14% on June 18 after the National Stock Exchange (NSE) filed its Draft Red Herring Prospectus (DRHP) for its proposed initial public offering (IPO), revealing the insurer as one of the selling shareholders.
The rally also marked the 5th consecutive session of gains for the stock, during which it has advanced around 28%.
According to the DRHP, New India Assurance Company Ltd will sell up to 1.05 crore equity shares of NSE as part of the proposed IPO. The shares have a face value of ₹1 each.
The IPO is entirely an Offer for Sale (OFS) comprising 14.89 crore equity shares, meaning NSE itself will not receive any proceeds from the issue.
The DRHP disclosed that New India Assurance's cost of acquisition for its NSE shares stands at ₹0.32 per share.
The proposed sale of 1.05 crore shares has drawn investor attention as the listing could unlock value from the insurer's long-held investment in the exchange.
New India Assurance share price was trading at ₹178.90, up 8.42%, as of 2:47 PM on June 18, 2026. The stock has extended its winning streak to 5 consecutive sessions, supported by heavy trading activity.
The stock also witnessed a sharp surge in volumes, with exchange data showing a more than 30-fold increase in trading volume on June 18. This follows volume spurts of 2.67 times on June 17, 1.55 times on June 16, and 2.26 times on June 15, indicating sustained investor participation over the past 4 trading sessions.
As of March 2026, the Government of India or promoter held an 85.44% stake in New India Assurance. Foreign Institutional Investors (FIIs) owned 1.01%, while Domestic Institutional Investors (DIIs) held 11.17%.
New India Assurance share price gained sharply after NSE's IPO papers identified the insurer as a selling shareholder in the proposed public issue. The company plans to sell up to 1.05 crore NSE shares through the IPO, while the issue itself is structured entirely as an Offer for Sale.
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Published on: Jun 18, 2026, 2:53 PM IST
Rakesh Deshmukh
Rakesh Deshmukh is a financial content specialist with around 3 years of experience writing impactful content across equities, mutual funds, IPOs, and personal finance. At Angel One, he decodes real-time market trends and breaking news, helping investors and traders stay updated. He also helps investors make informed decisions by simplifying market fundamentals and technical analysis. He holds a bachelor’s degree in commerce.
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