India's National Stock Exchange files Rs 30,000 crore IPO, targeting record valuation

The National Stock Exchange of India (NSE) has filed a draft prospectus for a Rs 30,000 crore Offer‑for‑Sale IPO, representing about 6 % of its equity. Existing shareholders, led by State Bank of India, will sell 14.89 crore shares; the issue will not raise fresh capital. Market analysts expect the listing could push NSE’s valuation past Rs 5 lakh crore, making it the largest IPO in India and surpassing Hyundai Motor India’s Rs 27,870 crore float in 2024.

The filing follows a decade‑long delay caused by a co‑location case that hampered earlier attempts to list. A recent settlement cleared the regulatory hurdle, allowing NSE to plan a listing on the Bombay Stock Exchange rather than its own platform. The exchange reported a decline in FY26 profit to Rs 10,302 crore and a slight dip in total income, though quarterly performance has improved.

With roughly 1.8 lakh shareholders currently holding stakes, the IPO is seen as a milestone that could enhance market transparency and attract further large‑scale listings, reinforcing India’s capital‑market growth.