Tuesday, July 7


Representative image.
| Photo Credit: Reuters

The National Stock Exchange (NSE) is targeting to launch its much-awaited initial public offering (IPO), estimated at around ₹30,000 crore, in September, people familiar with the development said on Monday (July 6, 2026).

The mega IPO is expected to value the country’s largest stock exchange at over ₹5 lakh crore.

The exchange will soon begin roadshows for the IPO.

If successful, the issue will surpass Hyundai Motor India’s ₹27,870-crore public offering launched in October 2024.

The proposed public issue will be entirely an offer for sale (OFS) of 14.89 crore equity shares, with existing shareholders collectively divesting nearly 6% of the exchange’s equity, according to the draft red herring prospectus (DRHP) filed in June. NSE has around 1.8 lakh shareholders.

Among the major shareholders selling their stake, State Bank of India will offload up to 2.48 crore shares, followed by MS Strategic (Mauritius) Ltd with 1.60 crore shares. Other shareholders proposing to sell shares include Canada Pension Plan Investment Board, Aranda Investments (Mauritius) Pte Ltd, Bank of Baroda, Stock Holding Corporation of India Ltd, General Insurance Corporation of India, The New India Assurance Company, National Insurance Company and United India Insurance Company.

Life Insurance Corporation of India (LIC), the exchange’s largest shareholder with a 10.72% stake, will not participate in the share sale.

NSE’s board had approved the proposed IPO on February 6 following the receipt of the Securities and Exchange Board of India’s (Sebi) no-objection certificate (NOC).

NSE had first filed draft papers for its IPO in 2016 to raise around ₹10,000 crore through an OFS. However, Sebi did not clear the proposal then amid concerns over governance issues and the co-location matter.

Since then, the exchange has undertaken several governance and compliance measures and made multiple representations to the regulator seeking approval.

As part of the IPO process, NSE has appointed 20 merchant bankers, besides legal advisers and other intermediaries, to manage the public issue.

On the financial front, the exchange reported a 15% decline in profit after tax to ₹10,302 crore in FY26 from ₹12,188 crore in FY25. Total income also eased to ₹18,713 crore during the fiscal from ₹19,177 crore a year earlier.

For the March quarter, however, profit after tax rose 8% to ₹2,871 crore from ₹2,650 crore in the corresponding period of the previous financial year, while total income increased 22% to ₹5,360 crore from ₹4,397 crore.

Close on the heels of the NSE announcement, Reliance Industries-promoted Jio Platforms also filed its draft papers with Sebi in June, and it is expected to be the largest public issue in the history of the Indian stock market.



Source link

Share.
Leave A Reply

Exit mobile version