The National Stock Exchange of India allocated shares worth ₹6,745 crore ($702.93 million) to more than 100 anchor investors ahead of its initial public offering (IPO), news agency Reuters reported, citing sources.
Life Insurance Corporation of India (LIC), Norway’s Norges Bank, Abu Dhabi’s sovereign wealth fund Abu Dhabi Investment Authority (ADIA), and US asset manager Fidelity were among the top investors in NSE’s IPO anchor book, the report said, quoting the sources.
LIC, Norges Bank, ADIA and NSE did not immediately respond to Reuters’ requests for comment. Fidelity declined to comment, according to the report.
What are the key details of the NSE IPO?
The National Stock Exchange of India (NSE) IPO is set to enter the primary market spotlight on September 17, with the ₹22,561.57 crore issue opening for subscription and remaining open until September 19.
At this size, NSE may become India’s largest-ever public offering, surpassing Hyundai Motor India’s ₹27,870 crore IPO, which currently holds the record.
The exchange has set the price band at ₹1,700 to ₹1,785 for the 12.64 crore shares being offered in the IPO. The proposed IPO is an offer for sale (OFS) of up to 14.89 crore equity shares with a face value of ₹1 each.
There is no fresh issue component, so NSE will not receive any proceeds from the IPO. Existing shareholders will sell their shares instead.
NSE shares are expected to be listed on the Bombay Stock Exchange (BSE) on September 24. The allotment process is scheduled to be finalised by September 22, while shares are expected to be credited to eligible investors’ demat accounts on September 23.
Retail investors have been allotted 35% of the issue, while 50% is reserved for qualified institutional buyers (QIBs). The remaining shares have been earmarked for non-institutional investors (NIIs).
The book-running lead managers are Kotak Capital, JM Financial, Morgan Stanley India, Citigroup, HSBC Securities, JPMorgan India, SBI Capital, Anand Rathi Advisors, Avendus Capital, Axis Capital, DAM Capital, Equirus Capital, HDFC Bank, ICICI Securities, IDBI Capital, IIFL Capital, Motilal Oswal, Nuvama Wealth, Pantomath Capital, and 360 ONE WAM.
Ahead of the issue opening, brokerages have highlighted NSE’s dominant market position, strong profitability, technology infrastructure, and long-term growth potential, while also flagging its dependence on trading volumes and regulatory changes.
NSE IPO: How has the exchange performed financially?
In terms of financial performance, the exchange reported total income of ₹18,713.37 crore for fiscal 2026, compared with ₹19,176.83 crore in fiscal 2025. Profit attributable to NSE shareholders stood at ₹10,302.06 crore, against ₹12,187.94 crore a year earlier.
Earnings per equity share were ₹41.62, while return on equity stood at 32.98%, according to its DRHP.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
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