NSE gets SEBI approval for IPO, plans book-building and listing this month

National Stock Exchange has received approval from the Securities Exchange Board of India (SEBI) for the exchange's long-awaited initial public offering, with the market regulator issuing its observation letter to the exchange on September 4. 

The exchange is likely to launch the public issue and list its shares on the Bombay Stock Exchange later this month. NSE is planning to list in ​the week starting September 21, reports Reuters. The exchange is expected to begin book-building, a process to gauge investor demand, and determine the IPO price on September 11, with the price band likely to be announced on September 15.

The development comes just days after the Supreme Court of India dismissed SEBI's appeal against NSE in the co-location and dark-fibre cases, removing a key regulatory hurdle for IPO from the country's biggest stock exchange.

NSE filed its Draft Red Herring Prospectus with SEBI on June 17, 2026, nearly a decade after its earlier listing plans were stalled by regulatory issues. 
The NSE IPO is expected to be one of the biggest market events.

NSE has been valued at about $55 billion ⁠in the unlisted market, potentially placing it among the country's 10 most valuable companies by market ​capitalization.

The exchange dominates trading in India's equity derivatives market and is the world's most active derivatives exchange by contracts traded. The exchange ​operates India's benchmark Nifty 50 index.

The IPO will be entirely an offer for sale (OFS), with existing shareholders offering up to Rs. 14.89 crore equity shares, representing nearly six per cent of NSE's paid-up capital. 
There is no fresh issue, meaning NSE itself will not receive any proceeds from the offering.