NSE Cuts Proposed IPO Size To ₹23,500 Crore Ahead Of September Launch
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NSE has filed a UDRHP with SEBI, revising its proposed IPO size to around ₹22,500-23,500 crore from the earlier ₹30,000 crore plan. The OFS is also expected to fall to around 5.25% of the exchange's paid-up capital.
The proposed National Stock Exchange (NSE) IPO has undergone a significant reduction in size ahead of its expected market debut. The revised filing indicates that the issue could now be worth around ₹22,500-₹23,500 crore, compared with the earlier proposal of ₹30,000 crore.
The change comes through an updated draft red herring prospectus (UDRHP) filed with the Securities and Exchange Board of India (SEBI). The revised structure also reduces the portion of the exchange's paid-up capital that existing shareholders are expected to offer through the offer for sale (OFS).
NSE IPO Structure Revised With Smaller Shareholder Offer
Under the OFS, the company now proposes to sell 12.64 crore shares, down from the earlier plan of up to 14.89 crore shares. The OFS is expected to represent around 5.25% of the exchange's paid-up capital. Under the earlier proposal, the proportion was approximately 6%.
The reduction means existing shareholders will be selling a smaller portion of their holdings through the NSE IPO than initially planned.
NSE IPO Timeline Set While India’s IPO Record Race Continues
The NSE IPO is being targeted for launch in the third week of September 2026, with the exchange's shares expected to list in the fourth week. The issue is also likely to open for anchor investors on 17 September 2026.
The reduced issue size could change the ranking of the country's largest IPOs. With the proposed NSE IPO now smaller than the earlier ₹30,000 crore plan, Hyundai Motor India's ₹27,870 crore issue is likely to retain the record for India's largest IPO until the proposed Jio Platforms issue comes to market.
Jio IPO is expected to target around ₹37,000 crore during the Navratri-Diwali period, according to the report
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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