NSE IPO buzz: Exchange eyes September listing; marketing for $3 bn issue begins next week
NSE is set to begin marketing its proposed $3 billion IPO next week, with a September listing in sight. Check the latest updates on valuation, timeline and share sale.
- Jul 6, 2026,
- Updated Jul 6, 2026 2:19 PM IST
The National Stock Exchange of India (NSE) is set to begin formal marketing for its initial public offering as early as next week, Bloomberg reported, citing people familiar with the matter. The move would take forward what could become one of India’s biggest IPOs, with the operator of the world’s largest derivatives exchange by trading volume targeting a September listing.
According to Bloomberg, NSE plans to hold investor meetings in the US, London, Singapore, Hong Kong, the Middle East and India. People familiar with the matter said the exchange is in discussions with banks on the marketing plan, though the size, valuation and timing of the offering could still change.
Bloomberg reported that India's leading equity market bourse is planning to raise as much as $3 billion, as part of a wave of large offerings in India alongside Reliance Industries Ltd’s digital arm Jio Platforms Ltd and SBI’s mutual fund unit. A representative for NSE did not respond to requests for comment, according to the report.
NSE filed its draft prospectus last month for an offering that will consist entirely of secondary share sales. Existing shareholders plan to sell as many as 148.9 million shares, or about 6% of the company, according to the filing.
The exchange is valued at more than Rs 5.25 trillion, or $55.1 billion, in the grey market, according to unlisted stock trading platform UnlistedZone. At that valuation, the sale of the entire stake on offer could raise about Rs 306 billion, higher than the Rs 278.7 billion listing of Hyundai Motor India Ltd in 2024, which is the country’s largest IPO on record.
Bloomberg reported that NSE has appointed about 20 banks to work on the share sale, including Kotak Mahindra Capital Company, JM Financial, Morgan Stanley, HSBC Holdings and Citigroup. As things stand, the exchange is preparing to begin marketing the offering while discussions on its final contours continue.
The National Stock Exchange of India (NSE) is set to begin formal marketing for its initial public offering as early as next week, Bloomberg reported, citing people familiar with the matter. The move would take forward what could become one of India’s biggest IPOs, with the operator of the world’s largest derivatives exchange by trading volume targeting a September listing.
According to Bloomberg, NSE plans to hold investor meetings in the US, London, Singapore, Hong Kong, the Middle East and India. People familiar with the matter said the exchange is in discussions with banks on the marketing plan, though the size, valuation and timing of the offering could still change.
Bloomberg reported that India's leading equity market bourse is planning to raise as much as $3 billion, as part of a wave of large offerings in India alongside Reliance Industries Ltd’s digital arm Jio Platforms Ltd and SBI’s mutual fund unit. A representative for NSE did not respond to requests for comment, according to the report.
NSE filed its draft prospectus last month for an offering that will consist entirely of secondary share sales. Existing shareholders plan to sell as many as 148.9 million shares, or about 6% of the company, according to the filing.
The exchange is valued at more than Rs 5.25 trillion, or $55.1 billion, in the grey market, according to unlisted stock trading platform UnlistedZone. At that valuation, the sale of the entire stake on offer could raise about Rs 306 billion, higher than the Rs 278.7 billion listing of Hyundai Motor India Ltd in 2024, which is the country’s largest IPO on record.
Bloomberg reported that NSE has appointed about 20 banks to work on the share sale, including Kotak Mahindra Capital Company, JM Financial, Morgan Stanley, HSBC Holdings and Citigroup. As things stand, the exchange is preparing to begin marketing the offering while discussions on its final contours continue.