NSE IPO: 5 PSU Shareholders to Offload 2.37 Crore Shares in Mega Offer

The National Stock Exchange (NSE) is nearing a historic milestone with its long-awaited initial public offering (IPO), set to become one of India's largest public listings. According to the Draft Red Herring Prospectus (DRHP) filed with SEBI, several major public sector undertakings (PSUs) will participate in the offer by monetising their existing stakes.

Major PSU Stakeholders to Participate in Offer for Sale

The proposed IPO is structured entirely as an Offer for Sale (OFS), involving up to 14.89 crore equity shares, representing approximately 6% of NSE's paid-up equity capital. Five government-owned entities have committed to offloading a combined total of approximately 2.37 crore shares.

Leading the disinvestment is IDBI Bank, which plans to sell 74.15 lakh shares. It is followed by State Bank of India (SBI) with 64.28 lakh shares and SBI Capital Markets with 53.62 lakh shares. Other notable participants include IFCI, which will offload 34.32 lakh shares, and Bank of Baroda, which will sell 10.98 lakh shares. Interestingly, while these PSUs are exiting a portion of their holdings, key investors like LIC, Premji Invest (2.35% stake), and Radhakishan Damani (1.58% stake) will not be participating in the share sale and will retain their current holdings.

Massive Valuation and Market Impact

With an estimated valuation of around ₹5 lakh crore in the unlisted market, the NSE IPO is expected to be worth roughly ₹30,000 crore. If successful, this would mark it as the biggest public offering in India's history. The exchange's shares are slated to be listed on the BSE, following a reciprocal arrangement with its primary competitor.

The journey to this listing has been long; the initial filing for a ₹10,000 crore issue dates back to December 2016, but the process faced significant delays due to previous regulatory controversies.

Financial Performance and Global Dominance

Despite regulatory shifts, NSE remains a financial powerhouse. The exchange's revenue from operations grew to ₹16,601 crore in FY26, up from ₹14,780 crore in FY24. While net profit rose to ₹10,302 crore in FY26, it saw a 15% year-on-year decline from the ₹12,188 crore recorded in FY25, largely due to tighter SEBI regulations on equity derivatives.

مقیاس عملیاتی NSE بی‌رقیب است. این بورس همچنان بزرگترین بورس مشتقات سهام در جهان باقی مانده است و در سال مالی ۲۰۲۶، بیش از ۳۶.۹۹ میلیارد قرارداد را مدیریت کرده است. زیرساخت تکنولوژیک عظیم این بورس به‌طور میانگین روزانه ۱۲ تا ۱۴ میلیارد پیام را پردازش می‌کند. علاوه بر این، NSE ثابت کرده است که پرداخت‌کننده سود سهام مستمری است و در هر دو سال مالی ۲۵ و ۲۶، مبلغ ۳۵ روپیه به ازای هر سهم توزیع کرده است.

نکات کلیدی

• واگذاری گسترده سهام: پنج شرکت دولتی (PSU)، از جمله IDBI Bank و SBI، در قالب OFS به‌طور مجموع ۲.۳۷ کرور سهم را عرضه خواهند کرد.
• مقیاس بی‌سابقه: ارزش این IPO حدود ۳۰,۰۰۰ کرور روپیه برآورد می‌شود که پتانسیل تبدیل شدن به بزرگترین عرضه عمومی در هند را دارد.
• رهبری بازار: NSE با تکیه بر درآمدهای قدرتمند و پرداخت‌های بالای سود سهام، جایگاه جهانی خود را به عنوان بزرگترین بورس مشتقات سهام حفظ کرده است.