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.

NSEの運営規模は他に類を見ません。同取引所は世界最大の株式デリバティブ取引所であり続け、2026年度には369.9億件を超える契約を扱っています。取引所の巨大な技術的基盤は、1日平均120億〜140億件のメッセージを処理しています。さらに、NSEは継続的な配当実績を誇っており、2025年度と2026年度の両方で1株あたり35ルピーを配当しています。

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