NSE to dilute 4-4.5% shares in upcoming IPO
31 Jan 2026

The National Stock Exchange (NSE) is likely to dilute 4-4.5% of its existing shares through an Initial Public Offering (IPO), NSE's Chief Executive Officer Ashish Kumar Chauhan announced today.

He said the exchange has 1.91 lakh shareholders and is looking to get this percentage of shares from them for the IPO.

May go for fresh issuance of shares
Market debut

Chauhan also said that if the exchange doesn't manage to get this much shares, it may go for fresh issuance of shares for the IPO.

He further added that it would take around seven to eight months for NSE's market debut.

This comes after SEBI granted a No-Objection Certificate (NOC) to NSE on Friday, paving the way for its long-awaited IPO.

Where will NSE's shares be listed?
Listing strategy

NSE first filed for an IPO in 2016 but withdrew amid a regulatory probe.

Now, with settlement talks nearing closure and SEBI's approval in hand, India's largest stock exchange is closer than ever to its long-awaited market debut.

When asked where NSE's shares would be listed, Chauhan said all possible exchanges except NSE itself.

This is because shares listed on one exchange cannot be traded on the same exchange.

Unlisted share prices surge
Market growth

Some private market platforms are quoting NSE shares at around ₹2,050 per share, pushing the market capitalization to around ₹5 lakh crore.

The settlement proposal is likely to go before the High-Powered Advisory Committee (HPAC) and then SEBI's whole-time members for final approval.

After that, the regulator may move to withdraw related cases pending before the Supreme Court.