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

The National Stock Exchange (NSE) is moving closer to its historic public listing, with five major public sector undertakings (PSUs) preparing to monetize their stakes. This long-awaited IPO is poised to become one of India's largest public offerings, potentially valued at approximately ₹30,000 crore.

Major PSU Entities to Participate in the Offer for Sale

According to the Draft Red Herring Prospectus (DRHP) filed with SEBI, the proposed IPO will be structured entirely as an Offer for Sale (OFS) of up to 14.89 crore equity shares. This represents roughly 6% of NSE's paid-up equity capital.

Five government-owned entities have committed to offloading a combined total of 2.37 crore shares. IDBI Bank leads the group as the largest PSU participant, offering 74.15 lakh shares. Other key contributors include:

Interestingly, while these PSUs are exiting a portion of their holdings, other heavyweight investors like Life Insurance Corporation of India (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.

Robust Financial Performance and Global Dominance

Despite regulatory shifts, NSE continues to demonstrate massive scale and profitability. The exchange's revenue from operations climbed to ₹16,601 crore in FY26, up from ₹14,780 crore in FY24. While net profit saw a year-on-year decline of 15%—from ₹12,188 crore in FY25 to ₹10,302 crore in FY26 due to tighter SEBI regulations on derivatives—the exchange remains a cash-generating powerhouse.

NSE's global standing is equally impressive. According to the World Federation of Exchanges, it maintained its position as the world's largest equity derivatives exchange, with over 36.99 billion contracts traded during fiscal 2026. Its technological infrastructure is equally massive, processing an average of 12 to 14 billion messages daily.

A Long-Awaited Milestone for Indian Markets

مسیر رسیدن به این عرضه اولیه (IPO) طولانی بوده است و به دسامبر ۲۰۱۶ بازمی‌گردد؛ زمانی که اولین DRHP برای یک عرضه ۱۰,۰۰۰ کرور روپیه‌ای ثبت شد. این فرآیند با تأخیرهای قابل توجهی روبرو شد که عمدتاً دلیل آن جنجال مربوط به هم‌مکانی (co-location) بود.

پذیرش آتی طبق یک ترتیب منحصربه‌فرد انجام خواهد شد که در آن سهام NSE در BSE لیست خواهد شد، مشابه با وضعیتی که در حال حاضر سهام BSE در NSE لیست شده است. مدیریت این عرضه بر عهده گروه قدرتمندی متشکل از ۲۰ مدیر اصلی پذیره‌نویس (book-running lead managers)، از جمله Kotak Mahindra Capital، Morgan Stanley و JP Morgan است.

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