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National Stock Exchange (NSE) IPO
National Stock Exchange (NSE)
IPO details
Subscription rate
Data will be available soon
Schedule
Data will be available soon
About
Founded in
1992
MD/CEO
Shri Ashishkumar Chauhan
Parent organisation
National Stock Exchange (NSE)
National Stock Exchange (NSE) IPO
https://www.youtube.com/watch?v=22o94AIARCo
NSE Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
NSE holds a near-monopoly in the Indian market across key asset classes, maintaining a market share of 92.99% in the cash market, 99.79% in equity futures, and 74.71% in equity options premium turnover in FY26, reinforcing its position as India's largest stock exchange since FY2001.
The company is a global leader in trading volumes, ranking as the largest multi-asset class exchange in terms of contracts traded in equity derivatives in FY26, with a global market share of 51.18%. This leadership has been sustained for seven consecutive years.
NSE exhibits strong and profitable growth, with total income growing from ₹16,352.06 Crores in FY24 to ₹18,713.37 Crores in FY26, while profit for the year grew from ₹8,305.74 Crores to ₹10,302.06 Crores during the same period, reflecting an 11.37% CAGR.
The company is a primary engine for capital formation in India, facilitating total fund mobilization of ₹20.33 lakh Crores in FY26 and ranking among the top five global exchange groups by total capital raised through IPOs at ₹1.67 lakh Crores (US$20.06 billion).
NSE operates a highly scalable and resilient technology platform, processing an average of 12 to 14 billion messages daily and having a strong cybersecurity track record with no data breaches in Fiscals 2024, 2025, and 2026.
The vertically integrated business model includes India's largest clearing corporation, NSE Clearing Ltd. (NCL), which guarantees trade settlements and maintained a Core Settlement Guarantee Fund of ₹13,079.15 Crores as of March 31, 2026, providing a significant risk backstop.
The company plays a pivotal role as a 'first level regulator' in the Indian market, a function that strengthens investor trust and is operationalised through dedicated functions like investor protection, market surveillance, and issuer oversight.
NSE is successfully expanding its global reach through the GIFT City international exchange (NSEIX), which has captured 99.81% market share in equity derivatives among exchanges at GIFT IFSC in FY26, with its equity index futures turnover growing at a CAGR of 67.29% from FY23 to FY26.
The company has a very high revenue concentration from its derivatives business, with transaction charges from options and futures contributing 60.22% and 8.92% respectively to the total revenue from operations in FY26.
NSE operates under intense regulatory scrutiny and has a history of significant enforcement actions, including a settlement of ₹643.05 Crores in FY25 regarding its Trading Access Point (TAP) architecture and a provision of ₹1,391.21 Crores in FY26 related to the pending Colocation and Dark Fibre matters.
The business has a high client concentration risk, deriving 46.78% of its revenue from operations from its top ten trading members in FY26, making it susceptible to disruptions if key members reduce activity or switch to competitors.
The company's critical dependence on its IT infrastructure exposes it to operational risk, as evidenced by a trading halt on February 24, 2021, that lasted nearly five and a half hours and resulted in regulatory penalties and settlement payouts totaling over ₹72.6 Crores.
Regulatory interventions have directly impacted trading volumes and revenues, as demonstrated in FY26 when measures by SEBI to curb speculation in equity derivatives led to a decline in the ADTV of equity futures and options.
The company faces significant contingent liabilities from outstanding litigation, including a compensation claim of ₹857 Crores filed by competitor MSEI, which is currently stayed by the Supreme Court.
Several of the company's subsidiaries are loss-making and may require future financial support. For instance, NAL Academy Limited incurred a loss of ₹16.31 Crores in FY25, and NSE IFSC Limited incurred a loss of ₹30.33 Crores in FY24.
A critical risk to the IPO is the regulatory deadline, as the No-Objection Certificate from SEBI requires the company to complete its listing process before January 30, 2027, failing which a fresh approval may be needed.
Application details
For NSE IPO, eligible investors can apply as
Data will be available soon
About
Book Running Lead Managers & Registrar of NSE IPO
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Book Running Lead Manager |
Kotak Mahindra Capital Company Ltd., Morgan Stanley India Company Private Ltd., HSBC Securities and Capital Markets (India) Private Ltd., SBI Capital Markets Ltd., Avendus Capital Private Ltd., DAM Capital Advisors Ltd., HDFC Bank Ltd., IDBI Capital Markets & Securities Ltd., Motilal Oswal Investment Advisors Ltd., Pantomath Capital Advisors Private Ltd., JM Financial Ltd., Citigroup Global Markets India Private Ltd., J.P.Morgan India Private Ltd., Anand Rathi Advisors Ltd., Axis Capital Ltd., Equirus Capital Ltd., ICICI Securities Ltd., IIFL Capital Ltd., Nuvama Wealth Management Ltd. and 360 ONE WAM Ltd. |
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Registrar to the Issue |
MUFG Intime India Private Limited |
NSE IPO Contact Details
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Company Name |
National Stock Exchange of India Limited |
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Registered Office |
Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (East), Mumbai 400 051, Maharashtra, India |
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Phone |
+91 22 2659 8100 |
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Website |
NSE IPO Registrar Contact Details
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Company Name |
MUFG Intime India Private Limited |
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Phone |
+91 810 811 4949 |
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Website |