Q1. What is the business of National Stock Exchange of India Limited?

It operates India’s leading exchange platform, enabling equity, derivatives, currency and debt trading with clearing, settlement, indices and market-data services.

Q2. Why is the company raising funds via IPO?

IPO of National Stock Exchange is entirely as an Offer for Sale, allowing existing shareholders to monetise their holdings.

Q3. What is the size of the issue and where will it list?

The IPO is entirely of an Offer for Sale (OFS) of ~14,89,05,525 Cr Equity Shares.. It will be listed on NSE and BSE platform.

Q4. What are the key risks to an investor?

Key risks include regulatory changes, derivatives-volume dependence, intense competition, cybersecurity/technology disruptions and potential impact from past regulatory matters.

Q5. What are the potential upsides?

Upside includes Market leadership, strong derivatives franchise, Nifty 50 ownership, expanding investor participation and operating leverage make NSE an attractive capital-markets opportunity.

Q6. How to apply for the IPO?

Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

National Stock Exchange of India Limited

Upcoming

National Stock Exchange of India Limited

Market Cap

—

IPO Issue Size

~14,89,05,525 Cr Equity Shares

Expected Price by IPOCorner

—

IPO Score

*Score varies on actual price

National Stock Exchange of India Limited (NSE) operates India’s leading stock exchange and provides trading, clearing, settlement, market-data and other financial-market infrastructure services. It is also the operator of the benchmark Nifty 50 Index.

National Stock Exchange of India Limited was incorporated in 1992 & currently Mr. Ashishkumar Chauhan serves as the Managing Director & CEO of the company.

National Stock Exchange of India Limited filed its DRHP with SEBI on June 17, 2026. The IPO features entirely an Offer for Sale (OFS) of ~14,89,05,525 Cr Equity Shares.

It provides equity/cash-market trading, equity derivatives, currency and interest-rate derivatives, fixed-income securities, ETFs, mutual funds and SME trading, along with listing, clearing, settlement, index and market-data services.NSE had over 11 crore registered investors, demonstrating its broad investor reach across India. It is the dominant exchange in Indian equity derivatives and is the world’s most active derivatives exchange by contracts traded.

Subscription date to apply for National Stock Exchange of India Limited is yet to be announced. Price band for the IPO is yet to be declared.

~14,89,05,525 Cr Equity Shares

Fresh Issue

N/A

Offer for Sale

~14,89,05,525 Cr Equity Shares

Year	2025
Networth	₹ 31869.72 Cr
Revenue	₹ 16601.30 Cr
EBITDA	₹ 11097.90 Cr
PAT	₹ 10302.06 Cr
EBITDA Margin	~66.85%
PAT Margin	~ 50.98%
Face Value	Rs.01 per Equity Share

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount
-	-
-	-
-	-
-	-
-	-
General Corporate Purpose	Balance

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	₹ 14,780.0	₹ 17,140.7	₹ 16,601.3
PAT (₹ Cr)	₹ 8,305.7	₹ 12,187.7	₹ 10,302.1
Asset (₹ Cr)	₹ 65,464.0	₹ 69,466.6	₹ 87,937.4
Net Worth (₹ Cr)	₹ 23,833.1	₹ 30,165.0	₹ 31,869.7

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
23-Aug	₹ –	₹ –	₹ –
22-Aug	₹ –	₹ –	₹ –
21-Aug	₹ –	₹ –	₹ –
20-Aug	₹ –	₹ –	₹ –
19-Aug	₹ –	₹ –	₹ –

Pros

Market leader: NSE has a dominant position in India’s equity and derivatives markets, with 51.18% global share of equity-derivatives contracts in FY2026.
Strong profitability: NSE reported FY2026 total income of about ₹18,713 crore, supported by its large-scale operations.
High growth potential: Increasing retail participation, derivatives activity and financial-market expansion can support future growth.
Strong brand & Nifty: NSE operates the widely followed Nifty 50, strengthening its position in India’s capital markets.
Scarce listed asset: NSE’s listing gives investors an opportunity to own a stake in India’s leading exchange and a major financial-market infrastructure business.

Cons

Regulatory risk: NSE operates under strict SEBI/RBI oversight, and regulatory actions or rule changes can affect its business.
Trading-volume dependence: A significant portion of revenue comes from transaction charges, so lower market activity could hurt earnings.
High valuation risk: An expected valuation of around $47 billion means investors may be paying a premium for NSE’s market leadership.
Technology & cyber risk: System failures, cyberattacks or outages could disrupt trading and damage investor confidence.
Entirely OFS: Since the IPO is an Offer for Sale, the money raised goes to existing shareholders rather than directly funding NSE’s expansion.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
No idenetifiable promoters	40
-	-
-	-
-	-
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	32.98%
ROCE	42.80%
RoNW	33.21%

Lead / Book Running Lead Managers

Kotak Mahindra Capital Company Limited Morgan Stanley India Company Private Limited HSBC Securities & Capital Markets (India) Private Limited, SBI Capital Markets Limited, J.P. Morgan India Private Limited

Registrar (RTA)

MUFG Intime India Private Limited

Q1. What is the business of National Stock Exchange of India Limited?
It operates India’s leading exchange platform, enabling equity, derivatives, currency and debt trading with clearing, settlement, indices and market-data services.
Q2. Why is the company raising funds via IPO?
IPO of National Stock Exchange is entirely as an Offer for Sale, allowing existing shareholders to monetise their holdings.
Q3. What is the size of the issue and where will it list?
The IPO is entirely of an Offer for Sale (OFS) of ~14,89,05,525 Cr Equity Shares.. It will be listed on NSE and BSE platform.
Q4. What are the key risks to an investor?
Key risks include regulatory changes, derivatives-volume dependence, intense competition, cybersecurity/technology disruptions and potential impact from past regulatory matters.
Q5. What are the potential upsides?
Upside includes Market leadership, strong derivatives franchise, Nifty 50 ownership, expanding investor participation and operating leverage make NSE an attractive capital-markets opportunity.
Q6. How to apply for the IPO?
Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.