NSE IPO Update: The long-awaited NSE IPO is drawing near, as SEBI has given the green signal for the listing. The NSE is expected to file an updated Draft Red Herring Prospectus (DRHP) with the regulator very soon. According to media reports, the NSE aims to list on the market before the start of *Pitru Paksha* in 2026, which begins on September 26. This implies that the NSE could list on or before Friday, September 25. Additionally, reports suggest that the NSE might announce the price band for its IPO on September 11, 2026.

Government/Regulatory Clearance

This potential clearance follows the High Court’s dismissal of the regulator’s appeals in the NSE’s co-location and dark fibre cases. This development resolves a major hurdle for the proposed public issue of India’s largest stock exchange, bringing it closer to going public after a long wait.

IPO to be an Entirely OFS-based Issue

The NSE filed its DRHP with SEBI in June, proposing to sell up to 14.89 crore shares, representing approximately 6% of its paid-up capital. The issue is structured entirely as an Offer for Sale (OFS); consequently, the proceeds will go to the selling shareholders rather than the company itself.

What Could Be the Issue Size?

Regarding the issue size, the valuation could potentially reach ₹30,000 crore, making it one of the country’s largest IPOs. Based on the estimated issue size, the NSE is expected to offer shares at around ₹2,000 per share—a level at which the stock is currently trading in the pre-IPO market. However, pre-IPO equity comes with a six-month lock-in period, and market activity for the shares will pause after the Red Herring Prospectus (RHP) is filed for the IPO.

When will the listing take place?

According to reports, approval for the NSE’s public issue is expected; a letter regarding the IPO process has been sent to SEBI, and a response is awaited. Key dates to watch include the potential receipt of SEBI approval next week. This could be followed by the filing of an updated prospectus. Additionally, the price band might be announced on September 11, with the listing potentially taking place on September 25, 2026.

NSE IPO Update: The long-awaited NSE IPO is drawing near, as SEBI has given the green signal for the listing. The NSE is expected to file an updated Draft Red Herring Prospectus (DRHP) with the regulator very soon.