The IPO of National Stock Exchange (NSE) may come within 7 to 8 months. MD and CEO Ashish Chauhan said this to CNBC-TV18’s Shireen Bhan. Chauhan said that NSE has received NOC i.e. No Objection Certificate from the Securities and Exchange Board of India (SEBI) for the IPO. The exchange is now working on the draft red herring prospectus (DHRP) for the IPO. Chauhan said that the IPO will be completely Offer for Sale (OFS). This means that new shares will not be issued in it. NSE is in the process of taking shares from existing shareholders.
It will take approximately 3 to 4 months to prepare the DRHP, after which it may take another 2 to 3 months to get approval from SEBI. “Overall, we are looking at a timeline of 7 to 8 months from now,” Chauhan said. It also said that NSE is targeting to launch IPO by the end of this year.
Government will have to remain financially responsible
Meanwhile, on expectations regarding Budget 2026, he said that expectations increase every year. But the central government will have to remain financially responsible. On the discussion of reduction in STT i.e. Securities Transaction Tax, he said that whatever comes in the budget, it will be absolutely good for NSE. NSE is the largest stock exchange in the country in terms of market share. Its IPO has been pending for more than 8 years. NSE filed its IPO prospectus in December 2016. In August last year, NSE had applied for no objection certificate from SEBI for its proposed IPO.
Who has how much stake in NSE?
IFCI has an indirect stake of about 2.35 per cent in NSE through its majority ownership in Stock Holding Corporation of India (SHCIL). Insurance companies Life Insurance Corporation of India holds 10.72 percent, General Insurance Corporation of India holds 1.64 percent and The New India Assurance Company holds 1.42 percent. SEBI has also given in-principle approval to the settlement petition filed by NSE in the co-location case. The allegation in the NSE co-location case was that some select brokers were given priority access to the exchange’s systems. After a long legal dispute, NSE had proposed a settlement by paying ₹1,388 crore in 2025.
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