The National Stock Exchange of India (NSE) has received regulatory approval to proceed with its proposed ₹30,000 crore initial public offering (IPO), potentially making it the second-largest IPO in India, after the proposed Jio Platforms listing.
The Securities and Exchange Board of India (SEBI) has issued its letter of observation to NSE, clearing the exchange’s Draft Red Herring Prospectus (DRHP) for the public offering.
NSE had filed its DRHP on June 17, 2026, after its much-anticipated IPO was delayed for nearly a decade amid regulatory and legal-related overhangs.
The proposed IPO will be entirely an offer for sale (OFS), with existing shareholders looking to sell up to 14.89 crore equity shares, representing approximately 6% of NSE’s paid-up capital.
The issue will not involve any fresh issuance of shares by the exchange.
Among the existing shareholders planning to offload their holdings, the SBI Group is expected to be the largest seller, offering up to 2.475 crore shares.
Other major shareholders participating in the OFS include MS Strategic (Mauritius) Ltd, which may sell up to 1.60 crore shares; Canada Pension Plan Investment Board (CPPIB), up to 1.19 crore shares; Aranda Investments (Mauritius) Pte Ltd, up to 1.12 crore shares; Bank of Baroda, around 1.10 crore shares; and Stock Holding Corporation of India Ltd, around 1.09 crore shares.
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