The National Stock Exchange of India (NSE) concluded its initial public offering on September 21, securing a subscription rate of 5.7 times. The offering, valued at $2,4 billion, represents the second-largest IPO in India's history, following the 2024 listing of Hyundai Motor India.
The shares were offered within a price range of ₹1,700 to ₹1,785 per share. Anchor investors, including Norges Bank, LIC, and the Abu Dhabi Investment Authority, committed ₹6,746 crore prior to the public opening. The total size of the offering reached ₹22,569 crore.
The NSE is currently valued at approximately ₹4,42 lakh crore, which corresponds to a range of $46 billion to $53 billion. Trading of the shares is scheduled to commence on the Bombay Stock Exchange on September 24.
This transaction was structured as a pure offer-for-sale, meaning existing shareholders, such as the State Bank of India, sold their stakes without new capital flowing into the exchange. The IPO process followed regulatory clearance from SEBI granted in early September 2026.
