New Delhi, Jun 17 (PTI) The National Stock Exchange (NSE) on Wednesday filed preliminary papers with markets regulator Sebi for its much-awaited IPO estimated to be around Rs 30,000 crore, a share sale that is poised to become the largest public issue in Indian stock market history.
The filing marks a major milestone for NSE, whose listing plans had been stalled for nearly a decade due to regulatory hurdles, including the co-location controversy.
The public issue will be entirely an offer for sale (OFS) of 14.89 crore shares with existing shareholders collectively divesting nearly 6 per cent of the exchange’s stake, according to the draft red herring prospectus (DRHP).
Among the top-selling shareholders, State Bank of India will offload up to 2.48 crore shares, followed by MS Strategic (Mauritius) Limited with 1.60 crore shares.
State Bank of India (SBI) has a 3.23 per cent stake in NSE and its subsidiary SBI Capital Markets holds a 4.33 per cent stake in the exchange. Stock Holding Corporation of India owns a 4.44 per cent stake.
Other key sellers include Canada Pension Plan Investment Board (1.19 crore shares), Aranda Investments (Mauritius) Pte Ltd (1.12 crore shares), Bank of Baroda (1.10 crore shares), and Stock Holding Corporation of India Ltd (1.09 crore shares).
Meanwhile, Life Insurance Corporation of India (LIC), the single largest shareholder in NSE, holding a 10.72 per cent stake, will not offload any shares.
The IPO size is estimated to be around Rs 30,000 crore based on the exchange’s valuation in the unlisted market, people familiar with the matter said.
This long-awaited public offering will surpass the previous record held by Hyundai Motor India’s Rs 27,870 crore issue launched in October 2024. PTI SP HVA
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