After 10 years of delay and regulatory challenges, the NSE IPO is finally coming close to reality. After SEBI’s NOC and NSE Board’s nod to the public offering, now the question is not about whether NSE will come to ipo or not. But only about when it's coming out. This update has directly brought up recent growth in NSE unlisted share price, reaching a 6 month hight to Rs
NSE IPO Closer Than Ever
In a statement by NSE, the exchange stated that “Considered and approved undertaking an initial public offering (IPO) through an offer for sale by existing shareholders of the company (OFS), for the listing of the equity shares of face value of Re 1 each of the company.”
The further IPO details and timelines have not yet been announced, but the approval is a big signal to a process pending for years.
What Will Be The Next Steps For NSE IPO?
NSE has got the NOC from SEBI to move forward with its IPO. After that, the NSE Board held a meeting on 6th Jan to discuss the next steps and approved the IPO plan. The next steps will involve the following:
A)Reconstitution of IPO Committee
This committee will be chaired by Tablesh Pandey, former MD of LIC, to oversee the IPO process. Others include Srinivas Injeti, Mamata Biswal, Justice (Retd.) Abhilasha Kumari, G. Sivakumar and NSE MD and CEO, Ashishkumar Chauhan.
B)Appointment of Merchant Bankers and advisors
This step involves select marchange bankers who are SEBI-registered financial advisors, connecting issuing companies with investors. Apart from Merchant Bankers, companies also appoint advisors to oversee the IPO process.
C)Filing Draft Red Herring Prospectus (DRHP)
Companies file a document detailing their business, financials and risks to SEBI. This also lets the potential investors review disclosures before the final prospectus is submitted.
D) Filing Red Herring Prospectus (RHP)
This is a mandatory step in the IPO process where the company submits its IPO registration document to SEBI and the ROC. It’s also called a preliminary prospectus as it gives investors the important information to decide whether to invest in an IPO or not.
"The Initial Public Offering (IPO) of the National Stock Exchange (NSE) is likely to be rolled out in the next 7 to 8 months, and the Draft Red Herring Prospectus (DRHP) will be prepared in the time frame of 3 to 4 months, said Ashish Chauhan, Managing Director and CEO of the National Stock Exchange (NSE)."NSE’s Ashish Chauhan stated while speaking to the Economic Times,
How has the NSE Unlisted Share Price Moved In Last 6 Months?
In FY25, NSE unlisted share price was around Rs. 1600- Rs. 2000. Despite several ups and downs, it managed to hold its ground.
While zooming in on the last 6 months, the NSE unlisted share has given roughly 7%-8% returns.
The share price has moved from about Rs. 1950 in August FY25 to Rs.2100 in February FY26,and during January FY26, it also reached Rs. 2300 per share. Currently, the NSE unlisted share price is trading at Rs.2100 per share.
Not explosive, but stable, and that’s impressive considering the short-term corrections seen in mid-year.
If we analyse NSE valuation-wise, the NSE unlisted share price is traded at a P/E ratio of 42.17, while the industry average is around 78.9. That basically means NSE can be undervalued relative to its peers.
The P/B ratio of 17.06 and the Book Value of Rs.121.63 show that the company commands a healthy premium.
And the Market Cap of Rs.5,22,298.00 lakh crore, a reflection of NSE’s dominance in the Indian financial ecosystem and a 4th worldwide in terms of equity trading volume ranking.
NSE Q3 Financial Results Adding To Share Growth
Recently, Q3 FY25 audited financial statements were released by NSE, showing a recovery in margins and profitability. It shows revenue from operations grew 7%, while quarterly EBITDA grew by 92%. The total income increased by 6% QoQ. Along with this, there is an improvement in trading activity across NSE’s key business segments.
This growth has significantly contributed to the recovery of not just financials, but also the expectations investors have from NSE Unlisted Shares.
Also Read: NSE Q3FY26 Results Out: Is NSE Finally Recovering?
