NSE IPO: India's Biggest Share Sale Nears Approval

The Securities and Exchange Board of India (SEBI) is reportedly on the verge of approving the initial public offering (IPO) of the National Stock Exchange (NSE). This highly anticipated share sale is poised to become the largest in India's history. Based on its current valuation in the unlisted market, which stands at approximately ₹5 lakh crore, the NSE could debut among India's top ten most valuable companies by market capitalization.

The proposed IPO size is estimated to be around ₹30,000 crore, stemming from a 6% stake sale by existing shareholders. The NSE filed its draft prospectus in June, detailing an offering composed entirely of secondary share sales. Several prominent institutional investors, including the State Bank of India and the Canada Pension Plan Investment Board, are among the entities planning to divest their stakes.

In related news, SEBI recently settled outstanding cases against the NSE, including the co-location and dark fibre issues, for ₹1,491.21 crore. Separately, SEBI chairman Tuhin Kanta Pandey indicated that no immediate changes are planned for the new closing auction system. The regulator is also reviewing proposals to rationalize margin requirements and establish standard operating procedures for settlement activities on unscheduled holidays, aiming to enhance operational efficiency.