National Stock Exchange

(NSE) IPO Details & Company Fundamentals

The National Stock Exchange of India Limited (NSE) has officially taken a monumental step forward by filing its Draft Red Herring Prospectus (DRHP) with SEBI. As the undisputed giant of India’s capital markets, this upcoming public issue is positioned to be one of the largest and most highly anticipated market entries in Indian history.

Key IPO Highlights (At a Glance)

Since the DRHP has just been filed, the specific transaction dates and final price boundaries are still awaiting regulatory approval.

IPO Parameter	Details Revealed in DRHP
Market Type	Mainboard IPO
Issue Type	100% Book Built Issue
Face Value	₹1 per Equity Share
Total Shares Offered	Up to 14,89,05,525 Equity Shares (~14.89 Crore Shares)
Fresh Issue Component	Nil (No new shares are being printed)
Offer for Sale (OFS)	Up to 14,89,05,525 Equity Shares
Estimated Issue Size	₹25,000 Crore to ₹30,000 Crore (Based on private market valuations)
Expected Valuation	Over ₹5 Lakh Crore ($60 Billion+)
Listing Platform	BSE Limited Only (As per regulations, an exchange cannot list on itself)

Crucial Note on IPO Structure: Because this public issue is a 100% Offer for Sale (OFS), the National Stock Exchange will not receive any fresh funds. All net proceeds will directly go to the participating selling shareholders who are trimming down or exiting their stakes.

Core Company Fundamentals & Financial Health

The financial indicators outline a highly profitable asset with exceptional operating leverage, though FY2026 experienced minor correction following unprecedented trading peaks the prior year.

Key Performance Metrics (FY 2026)

Dominant Market Share: NSE retains complete dominance in India’s capital markets, commanding roughly 92.99% of Cash Market turnover, 99.79% of Equity Futures, and 74.71% of Equity Options.
Unmatched Scale: The exchange handles a unique user base of 129.09 million registered investors across 99% of India’s pin codes.
Operating Efficiency: Boasts a stellar Return on Equity (ROE) of 32.98% and an outstanding Profit After Tax (PAT) Margin of 50.98%.

Three-Year Financial Snapshot

(Figures in ₹ Crores)

Financial Year	Total Revenue	Net Profit (PAT)	PAT Margin (%)	Book Value Per Share
FY 2024	~₹11,000+	₹8,300+	47.13%	₹96.86
FY 2025	₹19,176.83	₹12,188.00	55.30%	₹122.64
FY 2026	₹18,713.37	₹10,302.06	50.98%	₹129.75

Key Selling Shareholders in the OFS

Institutional giants comprise the majority of the selling pool. Notably, the single largest stakeholder, LIC (10.72%), along with Radhakishan Damani, are not selling and will keep their shares intact.

State Bank of India (SBI): Offering up to 2.48 Crore shares
MS Strategic (Mauritius) / Morgan Stanley: Offering up to 1.60 Crore shares
Canada Pension Plan Investment Board (CPPIB): Offering up to 1.18 Crore shares
Aranda Investments (Temasek): Offering up to 1.12 Crore shares
Bank of Baroda & Stock Holding Corp: Offering ~1.1 Crore shares each

Grey Market Premium (GMP) Status

Current Status: No Official GMP Available

Because NSE has only just filed its DRHP with SEBI and the price band has not yet been announced, there is no official, widely-tracked Grey Market Premium available. While bilateral private or unlisted shares have informally traded in the range of ₹1,950 to ₹2,075, a reliable retail GMP will only form once SEBI issues its final observations and the company officially clears the launch window.

Timeline & Next Steps For ipoind.com Visitors

DRHP Filed Date: June 17, 2026
SEBI Review Window: Generally takes 3 to 4 months.
Expected Launch: Likely looking at a late Q3 or Q4 calendar 2026 opening, subject to regulatory clearances.

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