At the upper end of the likely price band, NSE is likely to command a valuation of ₹4.41 lakh crore, the sources added. The IPO is going to be a complete Offer For Sale.
CNBC-TV18 has earlier reported citing sources that the NSE IPO is likely to be worth ₹30,000 crore, with the official price band likely to be announced on September 11, and the listing likely to take place on September 25.
Sources have further added that the NSE IPO size may be reduced to 5.5% from the earlier 6% as few shareholders such as Morgan Stanley have cut the size of their share sale in the IPO.
NSE is likely to file its updated DRHP with SEBI today with the official price band likely to be announced on September 15, sources said, adding that the issue will open for anchor investors on September 17, and remain open for subscription between September 18-22.
A clutch of Public Sector companies along with Private Equity and Investment Banking firms are the selling shareholders in the NSE IPO as per the exchange’s IPO documents.
Bank of Baroda, on Tuesday, said in an exchange filing, that it plans on divesting up to 76.9 lakh equity shares in the NSE IPO, or 35% of its overall holding, subject to regulatory approval.
As part of the OFS process, the NSE shares were transferred to an escrow account on September 8. In Financial Year 2026, Bank of Baroda received ₹76.9 crore as dividend from NSE.
SBI, Bank of Baroda, Indian Bank, GIC Re, New India Assurance, United India Insurance, National Insurance, Oriental Insurance, StockHolding Corporation of India are classified as selling shareholders in the NSE IPO.
Among the private entities, Morgan Stanley, ChrysCapital, CPPIB or the Canadian Pension Fund, ICICI Lombard, Temasek, TA Associates among others are going to be the selling shareholders.
NSE has a total of 1.7 lakh shareholders, which is the highest for any unlisted company.