{"id":35345,"date":"2026-09-16T17:04:17","date_gmt":"2026-09-16T11:34:17","guid":{"rendered":"https:\/\/www.fundsindia.com\/blog\/?p=35345"},"modified":"2026-09-16T17:45:48","modified_gmt":"2026-09-16T12:15:48","slug":"nse-limited-ipo-note-equity-research-desk","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/ipo-note\/nse-limited-ipo-note-equity-research-desk\/35345","title":{"rendered":"National Stock Exchange of India Limited \u2013 IPO Note \u2013 Equity Research Desk"},"content":{"rendered":"\n
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Company Overview<\/span><\/strong><\/h2>\n\n\n\n

National Stock Exchange of India Limited (\u201cNSE\u201d) is India\u2019s largest stock exchange and a vertically integrated market infrastructure institution, running trading, clearing, settlement, listing, market data and index services on a single platform. Incorporated in 1992 and headquartered in Mumbai, it has been the country\u2019s largest exchange by turnover in the cash market and in equity derivatives since Fiscal 2001, and was the world\u2019s largest multi-asset exchange in Fiscal 2026 by contracts traded in equity derivatives, with a 51.18% global share. As on June 30, 2026 it supported 132.37 million Unique Registered Investors, 1,328 trading members and 3,005 listed entities.<\/p>\n\n\n\n

The revenue model is a toll on market activity. Transaction charges \u2014 a fee on every trade \u2014 contributed 78.65% of revenue from operations in Fiscal 2026, of which equity options alone accounted for 60.2%. The remainder comes from annuity-like streams: listing fees, colocation racks and data feeds sold to brokers, Nifty index licensing, and clearing. Subsidiaries include NSE Clearing (India\u2019s largest clearing corporation) and NSE Indices, whose Nifty family is tracked by 72.59% of Indian passive AUM. The company has no identifiable promoter and no shareholder holds 15% or more of voting rights.<\/p>\n\n\n\n

Offer Summary<\/span><\/strong><\/h2>\n\n\n\n

The company is undertaking a book-built issue at a price band of \u20b91,700 to \u20b91,785 per Equity Share of face value \u20b91, comprising an Offer for Sale of up to 126,436,650 Equity Shares aggregating up to \u20b922,562 crore at the Cap Price. There is no Fresh Issue component, and the Offer represents approximately 5.11% of post-Offer equity. The sellers are ten corporate shareholders, led by State Bank of India, CPPIB, Aranda Investments (Mauritius), MS Strategic (Mauritius) and New India Assurance.<\/p>\n\n\n\n

Objects of the Offer<\/span><\/strong><\/h2>\n\n\n\n