NSE IPO: Five PSU Shareholders to Offload 2.37 Crore Shares

The National Stock Exchange (NSE) is moving closer to its historic market debut, with its Draft Red Herring Prospectus (DRHP) revealing significant participation from public sector entities. This mega IPO is poised to become one of India's largest public offerings, marking a major milestone for the nation's capital markets.

Major PSU Players to Monetise Holdings

According to the DRHP filed with SEBI, five government-owned entities have decided to partially monetise their stakes through an Offer for Sale (OFS). These five PSUs collectively intend to offload approximately 2.37 crore shares.

IDBI Bank leads the group of exiting PSU shareholders with 74.15 lakh shares, followed by the State Bank of India (SBI) with 64.28 lakh shares. Other significant contributors to the OFS include SBI Capital Markets (53.62 lakh shares), IFCI (34.32 lakh shares), and Bank of Baroda (10.98 lakh shares). Interestingly, while these entities are selling, key shareholders like the Life Insurance Corporation of India (LIC), Premji Invest (2.35% stake), and investor Radhakishan Damani (1.58% stake) will retain their existing holdings.

Scale and Valuation of the Mega IPO

The proposed NSE IPO is expected to be a landmark event, with an estimated valuation of around Rs 5 lakh crore in the unlisted market. The total issue size is projected to be roughly Rs 30,000 crore, making it one of the largest offerings in Indian history.

The IPO will consist entirely of an OFS of up to 14.89 crore equity shares, representing nearly 6% of the exchange's paid-up equity capital. In a unique structural move, NSE's shares are set to be listed on the BSE, mirroring the existing arrangement where BSE's shares are listed on the NSE.

Financial Performance and Market Dominance

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

Na świecie NSE nadal dominuje w sektorze instrumentów pochodnych. Według World Federation of Exchanges pozostaje ona największą na świecie giełdą instrumentów pochodnych na akcje, notując ponad 36,99 miliarda kontraktów w roku fiskalnym 2026. Skala jej technologicznego zaawansowania jest widoczna w infrastrukturze, która przetwarza średnio od 12 do 14 miliardów komunikatów dziennie.

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