NSE IPO latest news: The much-awaited initial public offering (IPO) of the National Stock Exchange (NSE) of India received SEBI's approval about a week ago, after nearly a decade of waiting. After the submission of a fresh DRHP in June 2026, the NSE has finally submitted its Red Herring Prospectus (RHP) with various changes. The most prominent change in the NSE IPO RHP is issue size. In the RHP, the NSE has reduced its Offer for Sale (OFS) from around 14.89 crore shares to 12,64,36,650 shares, reducing the NSE IPO size from ₹30,000 crore to ₹22,569 crore ( ₹1785 x 12,64,36,650). Hence, the NSE IPO is no longer India's biggest IPO. It has now shrunk to India's second-largest IPO, after Hyundai Motor India's ₹27,870 crore IPO in 2024.
1] NSE IPO size: As mentioned above, the NSE is no longer India's biggest IPO after the reduction in its OFS from around 14.89 crore shares to 12,64,36,650 shares. This led to a reduction in the issue size from the mega ₹30,000 crore to ₹22,569 crore, second-largest after Hyundai Motor India's ₹27,870 crore IPO in 2024.
2] NSE IPO price: At a ₹30,000 crore size, the NSE IPO price band was estimated in the range of ₹2,000 to ₹2,100 per equity share. However, the NSE IPO price band has been declared at ₹1700 to ₹1785 per equity share.
3] NSE IPO valuation: After the reduction in the OFS and the NSE IPO price band from around ₹2000- ₹2100 to ₹1700 to ₹1785, the valuation of the NSE has shrunk from the estimated ₹5 lakh crore to ₹4.20 lakh crore.
4] Selling shareholders revise selling plan: The NSE IPO size got reduced due to the changes in the selling shareholders' plan. The biggest selling shareholder, State Bank of India (SBI), reduced its proposed sale from 2.47 crore shares to 1.6 crore shares. MS Strategic (Mauritius) Ltd cut down its offer from 1.6 crore shares to 1.1 crore shares.