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2026-06-167 min readBy Arjun (Senior Capital Markets Correspondent)
MarketsIPO NewsCapital MarketsIndia

NSE IPO Set for Major Breakthrough as Exchange Prepares DRHP Filing for Rs 20,000 Crore Public Issue

National Stock Exchange headquarters ahead of anticipated IPO filing

The NSE IPO could become one of the largest and most anticipated listings in India's capital market history.

Executive Summary

The National Stock Exchange is expected to file its IPO draft papers, marking a crucial step toward a public listing that could raise over Rs 20,000 crore. The long-awaited IPO follows the resolution of key regulatory hurdles and is expected to provide investors with direct exposure to India's dominant exchange operator and rapidly expanding capital markets ecosystem.

Key Takeaways

  • NSE is expected to file its IPO DRHP by the end of the week.
  • The IPO could raise more than Rs 20,000 crore through an offer-for-sale structure.
  • The exchange may sell approximately 4-4.5% of its equity.
  • NSE's implied valuation is close to Rs 5 lakh crore.
  • The exchange currently trades at about 45x FY26 earnings.
  • The shareholder base has expanded significantly due to unlisted market demand.
  • Resolution of the co-location case has improved IPO prospects.
  • The listing could become one of India's biggest capital market events in recent years.
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