NSE Said to Invite Investment Bankers to Pitch for Upcoming IPO

National Stock Exchange of India Ltd (NSE) Requests Proposals for IPO Management

The National Stock Exchange of India Ltd (NSE) has formally requested proposals from investment banks to manage its initial public offering (IPO). The exchange plans to select advisers before April 2026, with the process still in its early stages.

The IPO is expected to see a 4-4.5% stake sale, which may take up to eight months. The company's chief executive officer, Ashishkumar Chauhan, had previously disclosed this timeline. The process is subject to change, and the exchange has not released further details.

NSE has been working towards listing on the bourses after a prolonged delay. The company received a "no-objection" notification from the Securities and Exchange Board of India (Sebi) on 30 January 2026, which ended a regulatory delay that had lasted nearly a decade. The NSE board approved the listing plan on 6 February 2026, appointing a committee led by Tablesh Pandey, a non-independent director on the exchange's board.

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The committee also includes Srinivas Injeti, the newly-appointed chairperson of NSE; public interest directors Mamata Biswal, Abhilasha Kumari, and G. Sivakumar; and Ashishkumar Chauhan. The proposed IPO will see stake sale by existing shareholders, with shares carrying a face value of ₹1 each.

NSE's financial performance has been strong, with its third-quarter profit rising 15% sequentially to ₹2,409 crore. Revenue from operations increased 7% to ₹3,925 crore, while operating income (Ebitda) almost doubled to ₹2,851 crore. The operating margin widened to 73% from the September quarter's 40%.