Incorporated in November 1992, National Stock Exchange of India Limited (“NSE”) operates a vertically integrated platform offering trading, clearing, settlement, listing, data and licensing services across multiple asset classes, including equities, derivatives, mutual funds, commodities, currencies and debt instruments.
As of March 31, 2026, NSE supported 253.66 million registered investor accounts, 129.09 million Unique Registered Investors, 1,325 trading members and 2,978 Listed Entities, with a total listed market capitalisation of ₹411.25 trillion. During Fiscal 2026, ₹20.33 trillion was mobilised through its platform.
NSE’s proprietary technology infrastructure supports high-speed and high-frequency transactions, market data dissemination and regulatory requirements. As of March 31, 2026, its platform processed an average of 12–14 billion messages daily and could process approximately 5 million messages per second.
Beyond its core exchange operations, NSE provides clearing, listing, market data, connectivity and index services. Through its subsidiaries, it manages the Nifty family of indices and operates NSE International Exchange at GIFT City.
NSE IPO – Details
| IPO Opening Date | September 2026 |
| IPO Closing Date | September 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 14,89,05,525 Shares Worth ₹[] Crore Offer For Sale: 14,89,05,525 Shares Worth ₹[] Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹[] – ₹[] per share |
| Market Lot | [] Shares |
| Min Order | [] Shares [1 Lot] |
| Listing At | BSE |
| Register | MUFG Intime India Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
NSE IPO – Date Schedule
| IPO Open Date | September 2026 |
| IPO Close Date | September 2026 |
| Basis of Allotment | September 2026 |
| Initiation of Refund | September 2026 |
| Credit of Shares to Demat Account | September 2026 |
| IPO Listing Date | September 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September, 2026 |
NSE IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | – | – | ₹ |
| Retail (Max) | – | – | ₹ |
| S-HNI (Min) | – | – | ₹ |
| S-HNI (Max) | – | – | ₹ |
| B-HNI (Min) | – | – | ₹ |
Competitive Strength
- Largest stock exchange in India across key trading segments.
- Leading global multi-asset exchange by equity derivatives trading volumes.
- Strong brand built on trust, transparency, and market integrity.
- Vertically integrated business model covering trading, clearing, settlement, and market data services.
- Advanced technology platform designed for scale, resilience, and security.
- Well-positioned to benefit from India’s growing capital markets and investor participation.
- Strong network effects driven by investors, listed companies, and intermediaries.
- Comprehensive product offerings across multiple asset classes.
- Consistent profitability, cash generation, and financial performance.
- Experienced management team with strong governance and regulatory expertise.
Company Promoters
- No Identifiable Promoter
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹16,352.06 Cr | ₹3,608.79 Cr | ₹8,305.74 Cr | ₹0.00 Cr |
| 31 March 2025 | ₹19,176.83 Cr | ₹4,806.29 Cr | ₹12,187.69 Cr | ₹0.00 Cr |
| 31 March 2026 | ₹18,713.37 Cr | ₹5,999.90 Cr | ₹10,302.06 Cr | ₹0.00 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 32.98% |
| ROCE | 42.80% |
| RoNW | 33.21% |
| PAT Margin | 50.98% |
| EBITDA Margin | 66.85% |
| NAV | 129.75 |
| Pre IPO | Post IPO | |
| EPS (₹) | 41.62 | 41.62 |
Object Of The Issue
- The National Stock Exchange of India Ltd. IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding and the entire IPO proceeds will go to the selling shareholders.
NSE IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 2 | BSE Limited | 66.67 |
✅Strengths
- Market Leadership across key asset classes in India.
- Vertically Integrated Model spanning trading, clearing, settlement, listing and data services.
- Strong Technology Infrastructure supporting high volumes and low-latency execution.
- Diversified Portfolio across multiple asset classes and services.
- Strong Profitability and Cash Generation supported by scale and an asset-light model.
- Experienced Management and Governance backed by strong risk and compliance frameworks.
⚠️Risks
- Dependence on Trading Volumes particularly from options and futures.
- Regulatory Changes could impact volumes and product offerings.
- Technology and Operational Risks including system disruptions and cyber incidents.
- Intense Competition from exchanges and alternative trading platforms.
- Data Security and Privacy Risks could result in regulatory and reputational issues.
- Product Innovation Risk as failure to launch successful products may affect growth.
NSE IPO Promoter Holding
| Pre Issue Share Holding | NA |
| Post Issue Share Holding | NA |
NSE IPO Prospectus
- NSE IPO DRHP
- NSE IPO RHP
Company Contact Information
| National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, 400051 Phone: +91 22 2659 8100 Email: nse_ipo@nse.co.in Website: https://www.nseindia.com/ |
NSE IPO Registrar
| MUFG Intime India Pvt. Ltd. Phone: 022-49186000 Email: nse.ipo@in.mpms.mufg.com Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
NSE IPO Lead Manager(s)
| 1. HDFC Bank Limited 2. Axis Capital Limited 3. JM Financial Limited 4. 360 ONE WAM Limited 5. Equirus Capital Limited 6. ICICI Securities Limited 7. SBI Capital Markets Limited 8. IIFL Capital Services Limited 9. Anand Rathi Advisors Limited 10. DAM Capital Advisors Limited 11. Avendus Capital Private Limited 12. J.P. Morgan India Private Limited 13. Nuvama Wealth Management Limited 14. Kotak Mahindra Capital Company Limited 15. IDBI Capital Markets & Securities Limited 16. Motilal Oswal Investment Advisors Limited 17. Pantomath Capital Advisors Private Limited 18. Citigroup Global Markets India Private Limited 19. Morgan Stanley India Company Private Limited 20. HSBC Securities and Capital Markets (India) Private Limited |
NSE IPO FAQs
| What is the NSE IPO? NSE IPO is a main-board IPO. The issue is priced at ₹[] to ₹[] per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the NSE IPO open? The IPO is to open on 16 September 2026 for QIB, NII, and Retail Investors. |
| What is NSE IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the NSE IPO Size? NSE IPO size is ₹[] Crore. |
| What are the NSE IPO Minimum and maximum lot sizes for Retail? The minimum bid is [] Shares with ₹[], while the maximum bid is [] Shares with ₹[]. |
| What is the NSE IPO Allotment Date? NSE IPO allotment date is [] September 2026. |
| What is the NSE IPO Listing Date? NSE IPO listing date is [] September 2026. The IPO is to be listed on the BSE and the NSE. |
