NSE IPO update: SEBI approval likely next week; Check expected dates of price band and listing

NSE IPO update: The long-awaited initial public offering (IPO) of the National Stock Exchange of India (NSE) may receive approval from the Securities and Exchange Board (SEBI) of India next week, most likely on Monday, September 07, according to sources privy to Business Today.

If the approval comes through, NSE is likely to file an updated draft red herring prospectus (UDRHP) with the regulator soon after, eyeing for listing before Pitru Paksha (Shradh) 2026, which begins on September 26. It means that NSE is eyeing its listing on or before Friday, September 25.

On the other hand, CNBC-TV18 reported that NSE may announce the price band for its IPO on September 11, 2026. These developments come as the exchange moves closer to taking its shares public after a prolonged wait.

The report said the expected approval follows the Supreme Court of India's dismissal of the regulator's appeals in the NSE co-location and dark-fibre cases. This has removed a key regulatory hurdle for the proposed public issue of the country's biggest stock exchange.

NSE had filed its DRHP with SEBI in June for an IPO comprising an offer for sale of up to 14.89 crore shares, or about 6 per cent of its paid-up capital. As the issue is entirely an offer for sale, the proceeds will go to the selling shareholders and not to the company.

The proposed issue is estimated at around Rs 30,000 crore and could rank among India's largest IPOs. At the expect issue size, NSE is likely to offer its shares around Rs 2,000 apeice. The stock is trading around same levels in the pre-IPO market. However, one should not that the pre-IPO equity comes with a six-month lock-in and the stock shall freeze to trade once it files RHP to launch IPO.

CNBC-TV18 said it has written to SEBI for confirmation on the approval timeline and the IPO process for NSE's public issue, and a response is awaited. For now, the key dates being watched are the possible SEBI approval next week, the likely filing of an updated prospectus after that, the expected price band announcement on September 11, and the targeted listing on September 25, 2026.