NSE Files DRHP With SEBI on June 17, 2026, for IPO of Up to 14.89 Crore Shares

Key Takeaways:

• The NSE filed its DRHP with SEBI for India’s biggest IPO. Do you know? The total equity shares are 148,905,525, which is worth ₹30,000 crore approx on June 17, 2026.
   
• SEBI issued an NOC on January 30, 2026, to work on resolving more than ten years of regulatory backlog in connection with the co-location scandal. NSE’s board approved the IPO on February 6, 2026.

What Is the NSE IPO? Why Is It Being Called India’s Biggest Ever Public Offering?

The National Stock Exchange filed its Draft Red Herring Prospectus with SEBI and BSE, kicking off India’s most awaited IPO in a decade on June 17, 2026. The issue will be an offer for Sale of up to 14,89,05,525 equity shares of face value ₹1 each. No fresh capital goes to NSE. All proceeds go to the selling shareholders. The estimated issue share around ₹30,000 crore, which is beyond the usual limit of the ₹27,859 crore Hyundai Motor India IPO in October 2024 as the biggest in Indian history.

NSE has been trying to list since 2016. The co-location scandal froze the process for nearly 10 years. NSE was ready to pay ₹1,388 crore in June 2025 as a settlement with SEBI. The case was rejected by the Delhi HC on Feb 16, 2026, and SEBI replaced its NOC on Jan 30, 2026. The total operating revenue of NSE came in at ₹16,601 crore and net profit at ₹10,302 crore in fiscal 2026. 

Who Is Selling Shares in the NSE IPO and What Does This Mean for Retail Investors?

The IPO is a pure OFS, meaning everyday retail investors get to buy a slice of the exchange that runs India's markets. Here’s who is selling:

NSE commands 93% of India’s cash equity market and nearly 100% of equity futures trading. It has over 12.9 crore unique registered investors. BSE shares fell 4.26% to ₹3,985 on June 17, 2026, the day NSE filed the DRHP. LoansJagat notes that a ₹1,00,000 investment in a Nifty 50 index fund in 2014 grew to ₹2,59,000 by 2024 at a 10% average annual return. Now, with the NSE listing, retail participation in the exchange itself becomes possible for the first time.

What Do Experts Say About the NSE IPO’s Impact on India's Primary Market?

Prashant Rao, Director and Head of Equity Capital Markets at Anand Rathi Investment Banking, said the combined NSE and Reliance Jio fundraising could exceed ₹60,000 crore ($6.3 billion). He said the 2 IPOs alone “could account for nearly one-third of the total fundraised through 104 mainboard IPOs last year.”

Narendra Solanki, Head of Fundamental Research at Anand Rathi Share and Stock Brokers, said the NSE and Jio IPOs “could meaningfully shift the narrative” for India”s primary market. He added these issues “may add nearly 2-3 times of total fund raise in the first half of 2026.” 

Trivesh D, COO at Tradejini, said. “Both NSE and Reliance Jio aren’t speculative growth stories. These are long-awaited listings with strong core and solid fundamentals.” The usual SEBI review takes 2-3 months, meaning a listing before December 2026 is the likely target.

Conclusion

NSE's DRHP filing on June 17, 2026, ends a decade of waiting. The ₹30,000 crore OFS will be India's largest IPO ever. With SEBI review taking 2-3 months and Reliance Jio also preparing to file, India's IPO market in H2 FY27 could be its most active ever.

FAQs

NSE finally files its DRHP: Could India’s biggest IPO of the year be on the cards? 

Yes, it is possible that India’s biggest IPO of the year may be on the cards because NSE finally filed its DRHP with the SEBI.

When will the NSE IPO be opened and what will be the price band of the IPO? 

The exchange has filed its Draft Red Herring Prospectus (DRHP) but the opening/closing date as well as price band of the IPO will be known later. The mega IPO may hit the market with listing till December 2026.