The National Stock Exchange of India Ltd (NSE) filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Wednesday night for an initial public offering (IPO) worth ₹30,000 crore. The IPO, consisting entirely of an offer for sale of up to 149 million shares, could value NSE at around ₹5 trillion upon listing, according to livemint.com.
The filing marks a revival of NSE's IPO plans after delays. Selling shareholders include major institutional investors such as the State Bank of India, Canada Pension Plan Investment Board (CPPIB), Morgan Stanley affiliates, Temasek, Bank of Baroda, Stock Holding Corporation of India, GIC, New India Assurance, National Insurance, and United India Insurance. The Life Insurance Corporation of India (LIC) will not sell any stake in this offering, thehindubusinessline.com reported.
This IPO will position NSE alongside the Bombay Stock Exchange (BSE), which became the first listed stock exchange in India in 2017. The listing is expected to be one of the largest in the country, reflecting the growing prominence of stock exchanges as publicly traded entities. The ₹30,000 crore issue size places it among the biggest IPOs in India, underscoring the market’s appetite for financial infrastructure assets.
The NSE’s IPO filing on June 17, 2026, initiates the regulatory process ahead of the public offering. Market participants will watch the subscription details and pricing once the issue opens, which will determine the final valuation and investor demand for India’s largest stock exchange.