Indian capital market regulator, the Securities and Exchange Board of India (SEBI), on Friday, 4 September, approved the much-awaited and one of the largest public issues- NSE IPO. NSE had filed its Draft Red Herring Prospectus (DRHP) with the market regulator on 17 June 2026.
The NSE IPO is an offer for sale (OFS) of 14,89,05,525 shares, aggregating to about ₹30,000 crore. Recently, SEBI gave its nod to the mega ₹ 37,700-crore initial public offering (IPO) of Jio Platforms.
So far, the record for the largest IPO in India is held by Hyundai Motor India, which raised about ₹27,870 crore in October 2024, overtaking the LIC IPO in May 2022, worth ₹20,557 crore.
By the end of this year, both Jio and IPO are expected to be listed on the Indian bourses after their respective IPOs.
According to media reports, NSE may announce the IPO price band on 11 September, and the stock may be listed on 25 September.
Jio Platforms (JPL), the telecom, digital and technology arm of Mukesh Ambani-led Reliance Industries, is reportedly gearing up for a $4 billion IPO, with the issue potentially hitting the market by late October or early November, according to a report by The Economic Times.
NSE IPO is entirely an OFS of 14.89 crore shares, in which State Bank of India, MS Strategic (Mauritius), Canada Pension Plan Investment Board, Aranda Investments (Mauritius) Pte, Bank of Baroda, Stock Holding Corporation of India, General Insurance Corporation of India, The New India Assurance Company, National Insurance Company, and United India Insurance Company are the corporate selling shareholders in the OFS.
Kotak Mahindra Capital Company, Morgan Stanley India, HSBC Securities and Capital Markets (India), SBI Capital Markets, Axis Capital, Avendus Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Capital Services, IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors, Nuvama Wealth Management, Equirus Capital, and Pantomath Capital Advisors are the book-running lead managers of the issue. MUFG Intime India is the registrar of the NSE IPO.
NSE has been the largest stock exchange in India by total turnover in the cash market and in equity derivatives (based on notional turnover for equity options) since FY01.
In August, Mint reported that the NSE was said to have completed its initial public offering roadshows, with institutional demand expected to drive the price to ₹2,500-2,800 per share for the IPO.
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