The National Stock Exchange has finally received no-objection certificate from Sebi for its long‑anticipated initial public offering, marking a breakthrough
after years of delays. The approval brings India’s largest exchange a step closer to launching its IPO, almost ten years after it first attempted to file its draft documents in 2016. The BSE, which is listed on the NSE, has a market capitalisation of Rs 1.13 lakh crore as of Jan. 30, 2026. As per recent reports, NSE has nearly 247.5 crore shares at the unlisted price of Rs 2,000. This brings the exchange's valuation to $55 billion or around Rs 5 lakh crore. This valuation paves the way for NSE's IPO to likely be the country's biggest public offering, right after Hyundai Motor India's IPO in October 2024, which was valued at approximately Rs 1.59 lakh crore to Rs 1.6 lakh crore ($19 billion) at the upper price band of Rs 1,960 per share. This valuation made it one of the largest automobile company listings in India. There were early indications of the IPO getting a clearance when last month, the Capital markets regulator SEBI agreed in principle with National Stock Exchange's (NSE) settlement application on the unfair market access case, Chairman Tuhin Kanta Pandey said in an earlier comment. The government has approved the 2.5 per cent stake dilution, Pandey had said. NSE is India's biggest bourse and the world's most active derivatives exchange. The exchange has been trying to list its shares on the BSE since 2016. But regulatory approval has been delayed by investigations into its conduct on fair market access for traders via its co-location facilities. NSE is yet to announce its third-quarter results for the financial year 2026. Notably, the exchange reported its third-quarter results for last year on February 4.
NSE Q2 Result
NSE in Q2 FY2026 reported a 33 per cent YoY decline in consolidated profit after tax (PAT) to Rs 2,098 crore. It had posted a PAT of Rs 3,137 crore in the same quarter last year. Excluding a provision of Rs 1,297 crore made towards the settlement applications filed with SEBI under the Settlement Regulations, NSE's adjusted PAT stood at Rs 3,396 crore, representing a surge of 16 per cent on a QoQ basis.NSE said that its consolidated total income in Q2 fell 17 per cent YoY to Rs 4,160 crore from Rs 5,023 crore in the corresponding period of FY25.
On a half-yearly basis (April to September), NSE reported a PAT of Rs 5,022 crore, while adjusted PAT (excluding the SEBI provision) came in at Rs 6,320 crore, compared with Rs 5,704 crore in the same period of FY25.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
