Archive · 10 Sep 2026
NSE Cuts IPO Size to ₹23,000 Crore in Updated Filing
The National Stock Exchange wants to list its shares on the stock market.
It filed an updated IPO document with regulators on September 9.
The planned IPO is now expected to be worth about ₹23,000 crore.
This is smaller than the roughly ₹30,000 crore plan announced earlier.
Existing shareholders will sell the shares, so NSE itself will not receive money from the IPO.
Four public-sector insurance companies have reduced the number of shares they plan to sell.
MS Strategic, which is linked to Morgan Stanley, has also reduced its proposed sale.
Large investors have reportedly shown interest worth about ₹85,000 crore.
NSE first began working toward its IPO nearly a decade ago, but its listing has faced delays.
The National Stock Exchange filed an updated draft red herring prospectus on September 9.
The proposed IPO size has been reduced to about ₹23,000 crore from roughly ₹30,000 crore.
The IPO will remain entirely an offer-for-sale, so NSE will not receive proceeds.
Four public-sector insurers and MS Strategic have reduced their proposed share sales.
Institutional investors have reportedly shown interest worth around ₹85,000 crore.
- Who
- The National Stock Exchange, its existing shareholders, four public-sector insurers, MS Strategic (Mauritius) Ltd, institutional investors, and market regulators.
- What
- NSE filed an updated draft red herring prospectus for a proposed IPO of about ₹23,000 crore.
- When
- The updated filing was made on September 9, 2026, and reported on September 10, 2026.
- Where
- The filing was submitted to the Securities and Exchange Board of India and the stock exchanges.
- Why
- The filing advances NSE’s long-delayed stock-market listing, with existing shareholders selling shares through an offer-for-sale.
- Updated filing
- NSE filed its updated draft red herring prospectus on September 9, 2026.
- Expected IPO size
- About ₹23,000 crore.
- Earlier proposed size
- Roughly ₹30,000 crore in the original draft filed in June.
- Offer structure
- The IPO will be entirely an offer-for-sale; NSE will not receive proceeds.
- Original offer
- The original draft proposed selling 14.89 crore shares, representing about 6% of NSE’s equity.
- Reported institutional interest
- Around ₹85,000 crore.
- Reduced stake sales
- GIC Re, New India Assurance, National Insurance Company, United India Insurance Company, and MS Strategic reduced their proposed sales.
