NSE IPO: New India Assurance to Sell 1.05 Crore Shares Through OFS
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New India Assurance is set to monetise part of its NSE holding through the upcoming IPO, with the shares already transferred to the escrow account ahead of the proposed September sale.
New India Assurance Company will sell 1.05 crore equity shares of the National Stock Exchange of India (NSE) as part of the exchange’s upcoming initial public offering (IPO), according to an exchange filing on Wednesday. The proposed sale represents 29.83% of the PSU general insurer’s total shareholding in NSE and will be carried out through an Offer for Sale (OFS), subject to the necessary regulatory approvals.
The insurer said the shares were transferred to the escrow account on September 8 as part of the OFS process. The expected completion date for the sale or disposal of the NSE shares is by the end of September 2026, as indicated by NSE.
New India Assurance to sell NSE stake
The proposed transaction will allow New India Assurance to monetise part of its holding in NSE through the exchange’s IPO. The insurer said it received a total dividend of Rs 123.20 crore from NSE during FY2025-26, highlighting the income generated from its stake ahead of the planned divestment.
New India Assurance is not the only existing NSE shareholder looking to sell shares through the IPO. Bank of Baroda had earlier said it plans to divest 76,90,375 NSE shares, representing around 35% of its total stake in the exchange, through the OFS.
The NSE IPO will comprise entirely shares sold by existing shareholders, meaning the exchange itself will not receive proceeds from the issue.
NSE IPO price band, valuation in focus
The NSE IPO is likely to be priced at Rs 1,750-Rs 1,785 per share, according to an earlier NDTV Profit report citing sources. The exchange is also expected to reduce the portion of equity offered in the IPO to around 5.5%, compared with the earlier plan of 6%.
At the upper end of the reported price range, NSE could be valued at around Rs 4.42 lakh crore. The exchange is expected to raise roughly Rs 24,300 crore through the proposed IPO, although the final issue size, price band and other details will depend on the final offer structure and regulatory process.
The IPO is set to give existing shareholders an opportunity to unlock the value of their NSE holdings after years of waiting for the exchange to go public.
Meanwhile, New India Assurance shares were trading marginally higher on Wednesday. At 2:36 pm, the stock was quoted at Rs 205.28 on the BSE, up 0.03% from its previous close.
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Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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