NSE IPO impact: New India Assurance, IFCI, GIC RE, LIC shares rally up to 14%; here's why

Shares of The New India Assurance Company Limited (NIACL), a selling shareholder in the proposed NSE initial public offer (IPO), soared 14.24 per cent to Rs 188.50 apiece on BSE, while IFCI Ltd, which held a majority stake in the selling shareholder Stock Holding Corporation of India Ltd, climbed 4.3 per cent to hit a high of Rs 93.95 per share in Thursday's trade, as the largest stock exchange in India filed draft papers with SEBI for an estimated Rs 30,000 crore IPO.

General Insurance Corporation of India (GIC RE), another proposed selling shareholder, rose 2.37 per cent to Rs 361.90. 

Life Insurance Corporation of India (LIC) also saw its shares rising 4.71 per cent to Rs 437.85 on hopes of value unlocking opportunity, even as the largest life insurer is not among the selling shareholders in the proposed offer. LIC is the largest shareholder in NSE, holding 10.72 per cent or 26,52,75,000 shares.

SBI is looking to offload 2,47,50,000 equity shares, while BOB intends to sell up to 1,09,86,250 shares. GIC RE plans to offload up to 1,06,58,000 shares, while The New India Assurance Company Ltd is looking to sell up to 1,05,00,000 shares. Stock Holding Corporation of India Limited will be selling up to 10,890,000 shares.

State Bank of India (SBI) and Bank of Baroda (BOB), two of NSE IPO's selling shareholders, edged higher. SBI stood at Rs 1,026.75 apiece, up 0.07 per cent. BOB gained 0.48 per cent to Rs 283.20.  

Data showed SBI held 7,98,47,050 shares or 3.23 per cent stake in NSE so far. Besides, SBI Capital Markets Limited, an associate of SBI, held 10,72,50,000 shares or 4.33 per cent stake in NSE. The New India Assurance Company Ltd, on the other hand, owned 3,52,00,000 shares or 1.42 per cent stake in the largest stock exchange.According to the draft papers, the NSE IPO will be an offer for sale (OFS) of up to 14.89 crore shares with a face value of Rs 1 each, which will account for nearly 6 per cent of paid-up capital of NSE.

IFCI owned 52.86 per cent stake in selling shareholder Stockholding Corporation of India. As of March 31, 2026, NSE is the largest exchange in India in terms of total turnover in cash market and the third largest globally in terms of number of trades in cash equities, according to World Federation of Exchanges.

Its IPO would be an offer-for-sale of up to 14.89 crore shares by SBI, MS Strategic (Mauritius) Ltd, Canada Pension Plan Investment Board, Aranda Investments (Mauritius) Pte Ltd, BOB, Stock Holding Corporation of India Limited, GIC RE, The New India Assurance Company Ltd, National Insurance Limited and United India Insurance Company Limited.

Many known investors are invested in NSE. They included Radhakishan Shivkishan Damani, Dolly Khanna and Raamdeo Agrawal. Ace investor Radhakishan Shivkishan Damani held 78,16,880 shares or 1.56 per cent stake in NSE and was the thirteenth biggest shareholder in the stock exchange, as of last count. Another known investor Dolly Khanna owned 3,00,000 shares or 0.06 per cent stake in NSE. MOFSL's Raamdeo Ramgopal Agrawal and Motilal Gopilal Oswal held 8,00,000 shares or 0.03 per cent stake each in NSE, data showed.