NSE IPO News Confirmed: Exchange files papers with SEBI to float OFS; SBI to be biggest seller—FULL details

NSE IPO News Confirmed: State Bank of India (SBI) -- the country's largest lender -- is set to be the biggest shareholder when exchange NSE rolls out a proposed initial public offer (IPO) comprising an offer for sale (OFS). NSE's public offer will not include any fresh issuance of shares -- meaning its proceeds will go to SBI and the other selling shareholders and not to the bourse. This confirms an earlier Zee Business report that suggested, citing sources, that the exchange was likely to file its draft red herring prospectus (DRHP) on Wednesday, June 17.

A DRHP is a preliminary document filed with capital market regulator SEBI that contains key details about a proposed initial public offering. This crucial document contains a host of important details for potential investors, including informaton on the company's financial performance, key risks and shareholding structure. MUFG Intime India will be the registrar for the issue.

The development marks a crucial step in the bourse's initial public offering, with the country's largest stock exchange filing its IPO papers with SEBI.

Here are 10 key things to know about the much-awaited NSE IPO:

SIZE: In the proposed issue, existing NSE shareholders will collectively offload up to 14.89 crore shares, representing nearly 6 per cent of the exchange's paid-up equity capital.

TIMING: The filing marks a pivotal milestone in NSE's journey to enter the listed space after years of regulatory and legal hurdles.

LISTING EXCHANGE: The development confirms rival BSE as the listing exchange. In other words, once listed, NSE shares will be available in the secondary market on BSE.

NO PROMOTER: SBI is set to be largest seller in the NSE IPO, offloading up to 2.48 crore shares. There is no identifiable promoter for the market-bound company.

OTHER SHAREHOLDERS: MS Strategic (Mauritius), which will sell up to 1.60 crore shares in the issue, Canada Pension Plan Investment Board (CPPIB), which will offload 1.18 crore shares, and Aranda Investments (Mauritius), which will sell 1.12 crore shares, are set to be some of the other major shareholders. Also, Bank of Baroda will divest 1.09 crore shares, Stock Holding Corporation of India will offload 1.08 crore shares, GIC Re will offload 1.06 crore shares and New India Assurance will sell 1.05 crore shares. NIA and United India Insurance will each sell 60 lakh shares through the issue.

INVESTOR QUOTA: The IPO will be carried out through a standard book-building process. While up to 50 per cent of the net offer is reserved for qualified institutional buyers (QIBs), at least 15 per cent is set aside for non-institutional investors (NIIs) and a minimum 35 per cent for retail individual investors (RIIs).

EMPLOYEE QUOTA: The issue will have a special reservation quota for eligible employees of the exchange.

FACE VALUE: NSE shares will have a face value of Re 1 apiece.

ISSUE PRICE AND KEY DATES: Other essential details like price band and issue/listing dates will be announced later.

COMPANY PROFILE: NSE is the country's largest exchange by cash market turnover. Set up in 1992 and commencing operations in 1993, the bourse is and equity derivatives turnover, according to the Redseer Report cited in the DRHP.

For the year ended March 31, NSE registered a top line of Rs 16,601 crore versus Rs 14,780 crore in FY24.

Its bottom line climbed to Rs 10,302 crore for FY26 from Rs 8,305 crore in FY24.