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

이번 IPO를 향한 여정은 꽤 길었습니다. 1,000억 루피 규모의 첫 DRHP가 제출된 2016년 12월까지 거슬러 올라갑니다. 이 과정은 주로 코로케이션(co-location) 논란으로 인해 상당한 지연을 겪었습니다.

이번 상장은 현재 BSE 주식이 NSE에 상장되어 있는 방식을 그대로 반영하여, NSE의 주식이 BSE에 상장되는 독특한 방식으로 진행될 예정입니다. 이번 발행은 Kotak Mahindra Capital, Morgan Stanley, JP Morgan을 포함한 20개의 강력한 주관사 그룹이 관리하고 있습니다.

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