NSE IPO gets SEBI nod: When could shares hit the market?

NSE IPO: The National Stock Exchange of India (NSE) has received the eagerly anticipated no-objection certificate from the capital market regulator, the Securities and Exchange Board of India, to go ahead with its initial public offering (IPO).

NSE's listing plans were on hold since 2016, when the country's largest bourse first filed a draft red herring prospectus (DRHP) to raise around ₹10,000 crore through an offer for sale (OFS) component by existing shareholders.

The approval was withheld by SEBI because of regulatory concerns arising due to governance lapses and the co-location case. Since then, NSE has approached the regulator multiple times to seek clearance.

On SEBI's clearance, NSE Chairperson Srinivas Injeti said the watchdog's approval for the exchange's IPO marked a significant milestone in its growth journey.

NSE IPO date

The exchange is presently working on the DRHP.

What factors delayed NSE’s IPO?

The exchange's IPO plans were stalled due to the co-location case, in which certain brokers were accused of receiving preferential access to the exchange's trading systems.

After years of litigation, NSE in 2025 offered to pay ₹1,388 crore to settle the charges and move ahead with the listing process.

Earlier this month, SEBI chairman Tuhin Kanta Pandey said the regulator had granted "in-principle" approval to NSE's settlement application in the unfair market access case, an important development seen as paving the way for the exchange's IPO.

The proposed IPO is expected to be among the largest in India's capital markets.

NSE, which has about 1.77 lakh shareholders, is valued at more than ₹5 lakh crore in the unlisted grey market, according to market analysts.