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  5. NSE IPO update: SBI Capital Markets to offload up to 88 lakh shares as SBI splits stake sale

Market News

NSE IPO update: SBI Capital Markets to offload up to 88 lakh shares as SBI splits stake sale

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
By Kamal Joshi

2 min read | Updated on August 11, 2026, 13:59 IST

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SUMMARY

NSE IPO: The initial public offering of the National Stock Exchange of India is exclusively an offer for sale (OFS) of 14.89 crore shares, without a fresh issue component.

Shares of the National Stock Exchange of India will debut on BSE. | Image: Shutterstock

Shares of the National Stock Exchange of India will debut on BSE. | Image: Shutterstock

In an addendum to its draft red herring prospectus (DRHP), National Stock Exchange of India (NSE) in a public announcement revealed that selling shareholder, State Bank of India's (SBI's) 2,47,50,000 crore shares in the initial public offering (IPO) will be now be offered together by SBI and SBI Capital Markets.

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This means that the offer size is same and just SBI has split its stake sale in the NSE IPO. SBI will be offload 1,59,69,410 shares, while SBI Capital Markets (wholly owned subsidiary of SBI) will divest 87,80,590 shares.

The IPO is exclusively an offer for sale (OFS) of 14.89 crore shares, without a fresh issue component.

Other corporate shareholders who will sell their stake in the issue include MS Strategic (Mauritius) Ltd, Canada Pension Plan Investment Board, Bank of Baroda, Aranda Investments (Mauritius) Pte Ltd, Stock Holding Corporation of India, The New India Assurance Company, General Insurance Corporation of India, United India Insurance Company and National Insurance Company.

"Our company expects that listing of the equity shares will enhance our visibility and brand image, provide liquidity to our shareholders and will also provide a public market for the equity shares in India," the preliminary papers said.

The proposed NSE IPO size is estimated to be around ₹30,000 crore, making it among the largest public issues in the Indian capital markets.

In July, NSE said it has paid ₹714.74 crore to Securities and Exchange Board of India (SEBI) after securing the regulator’s in-principle nod to settle the co-location and dark fibre cases for ₹1,491.21 crore.

The latest payment, together with the ₹776.47 crore already deposited by the stock, completes the ₹1,491.21-crore settlement amount agreed under the revised settlement terms.

ALSO READ | Indian firms raise ₹1.9 lakh crore through IPOs in FY26; average listing-day gains at 7%

Kotak Mahindra Capital Company, JM Financial, Citigroup Global Markets India, Morgan Stanley India Company, HSBC Securities and Capital Markets India, JP Morgan India, SBI Capital Markets, Anand Rathi Advisors, Axis Capital, Avendus Capital, Dam Capital Advisors, Equirus Capital, HDFC Bank, IDBI Capital Markets & Securities, ICICI Securities, IIFL Capital Services, Motilal Oswal Investment Advisors, 360 ONE WAM, Pantomath Capital Advisors and Nuvama Wealth Management are the issue's book-running lead managers.

Shares of the National Stock Exchange of India will debut on BSE.

About The Author

Journalist Kamal Joshi, former Republic TV and latestly news editor, currently associated with Upstox as senior ipo writer.
Kamal Joshi is a business journalist who covers markets and IPOs. He places a special focus on in-depth analysis of DRHPs, RHPs and public-issue documents to produce data-driven stories. He covers trends across mainboard and SME IPOs, anchor allocations, subscription status and post-listing performance. He is passionate about breaking news and enjoys playing pickleball, especially flexing his net play. He was previously associated with Republic TV and LatestLY.

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