Summary:
NSE has begun the valuation process for its much-awaited IPO after strong institutional demand during recent roadshows. The IPO is expected to be priced within two weeks, with estimates of ₹2,500–₹2,800 per share and a tentative September 25, 2026 listing. The issue will be a pure offer-for-sale of up to 14.89 crore shares, representing around 6% of NSE’s paid-up capital. NSE reported a ₹3,120 crore net profit in Q1FY27, up 7% year-on-year.
The National Stock Exchange has commenced the valuation process for its long awaited IPO after a slew of roadshows that saw overwhelming institutional demand. The pricing for the exchange's shares is expected to be finalized in about two weeks' time, with tentative estimates putting the cost at anywhere between ₹2500-₹2800 per share.
However, the final figure could vary depending on domestic demand and other factors.
NSE aims to float the IPO by mid September 2026, and list its shares on September 25, subject to requisite approvals.
Hefty Institutional Demand For NSE Shares
NSE officials met around 120 investo₹(out of the targeted 150) during the roadshows, and received commitments from qualified institutional buyers worth around ₹10,000 crore. Moreover, the investors who participated in the meetings felt that they would be willing to bid at the higher end of the spectrum.
As such, the demand from domestic investors is likely to have a bearing on the final IPO pricing.
NSE IPO To Be Pure Offer For Sale
NSE had filed the draft prospectus in June this year for an IPO of up to 14.89 crore shares, or around 6% of the exchange's paid-up capital. The offering will be a pure offer-for-sale since the promoter (NSEIL) will not be issuing any new shares, and the collections from the sale will go directly to the selling shareholders. At the unlisted valuation, the IPO was valued at ₹30,000 crore, and it could become one of the largest-ever IPOs in India if it manages to fetch a similar valuation upon pricing.
NSE Registers ₹3120 Crore Profit For Q1FY27
NSE reported a net profit of ₹3,120 crore for Q1FY27, which reflects a rise of around 7% compared to the same quarter last fiscal. Consolidated revenue from operations stood at ₹4,560 crore, up 13% from ₹4032 crore recorded in Q1FY26. Meanwhile, total income for the quarter was at ₹5,252 crore, up 9% from ₹4820 crore in Q1FY26.
For FY26, NSE saw revenues from operations at ₹16,601 crore, with a net profit of ₹10,302 crore, underscoring the scale and profitability of India's largest stock exchange.
NSE Eyes Billion-Dollar IPO After Decade Long Delays
NSE initiated its IPO process back in 2016, but the plans kept getting deferred due to regulatory scrutiny and legal challenges pertaining to the co-location scandal. The SEBI gave the green signal in January this year, allowing NSE to proceed with the IPO.
Moreover, another regulatory hurdle was cleared in July when SEBI approved the request for resolving the regulatory issues (in principle) with a payout of ₹1,491 crore.
