NSE gets Sebi nod for Rs 30,000-crore IPO, among India's largest ever

The National Stock Exchange of India has received clearance from markets regulator Sebi for a public listing valued at roughly Rs 30,000 crore. The offering is structured entirely as an offer for sale, with existing shareholders—including the State Bank of India and GIC Re—expected to offload nearly six percent of the NSE’s paid-up equity, or close to fifteen crore shares.

The NSE’s board cleared the draft red herring prospectus after securing Sebi’s no-objection certificate. An earlier attempt to go public was derailed nearly a decade ago following a Sebi investigation into a co-location scandal involving preferential access to trading systems, which delayed listing plans and forced governance changes.

Bankers are now targeting a launch within the current quarter, subject to market conditions. If completed at the expected size, the IPO would rank among the largest ever seen on Indian exchanges.