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The National Stock Exchange (NSE) connected Wednesday (June 17, 2026) filed preliminary papers with markets regulator Sebi for its much-awaited IPO, estimated astatine astir ₹30,000 crore, a stock merchantability that is poised to go the largest nationalist contented successful Indian banal marketplace history.
The filing marks a large milestone for NSE, whose listing plans had been stalled for astir a decennary owed to regulatory hurdles, including the co-location controversy.
The nationalist contented volition beryllium wholly an connection for merchantability (OFS) of 14.89 crore shares with existing shareholders collectively divesting astir 6% of the exchange's stake, according to the draught reddish herring prospectus (DRHP).
Among the top-selling shareholders, State Bank of India volition offload up to 2.48 crore shares, followed by MS Strategic (Mauritius) Limited with 1.60 crore shares.
Meanwhile, Life Insurance Corporation of India (LIC), the azygous largest shareholder successful NSE, holding a 10.72% stake, volition not offload immoderate shares.
Other cardinal sellers see Canada Pension Plan Investment Board (1.19 crore shares), Aranda Investments (Mauritius) Pte Ltd (1.12 crore shares), Bank of Baroda (1.10 crore shares), Stock Holding Corporation of India Ltd (1.09 crore shares), General Insurance Corporation of India (1.07 crore shares), The New India Assurance Company (1.05 crore shares), National Insurance Company (0.60 crore shares) and United India Insurance Company (0.60 crore shares).
The State Bank of India (SBI) has a 3.23% involvement successful the NSE, and its subsidiary, SBI Capital Markets, holds a 4.33% involvement successful the exchange.
Stock Holding Corporation of India owns a 4.44% stake.
According to radical acquainted with the matter, the IPO size could beryllium astir ₹30,000 crore, implying a marketplace capitalisation of implicit ₹5 lakh crore.
\NSE has astir 1.8 lakh shareholders.
This long-awaited nationalist offering volition surpass the erstwhile grounds held by Hyundai Motor India's ₹27,870 crore contented launched successful October 2024.
The filing comes aft NSE's committee approved the projected IPO connected February 6 pursuing receipt of Sebi's no-objection certificate (NOC).
NSE had archetypal filed draught connection documents successful 2016 to rise astir ₹10,000 crore done an OFS by existing shareholders. However, Sebi withheld support amid concerns related to governance lapses and the co-location case.
Since then, the speech has made aggregate representations to the regulator seeking clearance and has undertaken assorted governance and compliance measures.
As portion of its IPO preparations, NSE appointed 20 merchant bankers, too ineligible advisors and different intermediaries, to negociate the projected nationalist issue.
In January, Sebi Chairman Tuhin Kanta Pandey said that the regulator had granted "in-principle" support to NSE's colony exertion successful the unfair marketplace entree case, a determination wide seen arsenic clearing a cardinal hurdle for the IPO.
NSE had filed its colony exertion successful June 2025 successful transportation with the co-location case, successful which definite brokers were accused of receiving preferential entree to the exchange's trading systems.
After years of litigation, the speech successful 2025 offered to wage ₹1,388 crore to settee the substance and determination guardant with its long-pending listing plans.
On the fiscal front, NSE reported a 15% diminution successful nett aft taxation to ₹10,302 crore successful FY26, down from ₹12,188 crore successful FY25. Also, the full income stood astatine ₹18,713 crore, marginally little than ₹19,177 crore successful the preceding fiscal.
In the March 4th of FY26, NSE reported an 8% emergence successful PAT to ₹2,871 crore from ₹2,650 crore successful the year-ago 4th (Q4FY25). Its full income during the 4th accrued 22% to ₹5,360 crore compared to ₹4,397 crore successful the aforesaid play a twelvemonth ago.
