NSE IPO: DRHP may be filed by June-end; listing targeted before December, says CNBC-TV18

The National Stock Exchange (NSE) is likely to file the draft red herring prospectus (DRHP) for its proposed mega IPO by the end of June 2026. India's largest stock exchange NSE is targeting a listing in the third quarter of the current financial year, before December, CNBC-TV18 reported citing unidentified sources.

The timeline broadly aligns with recent developments in the exchange’s long-delayed IPO journey. Earlier reports had indicated that NSE was preparing to file preliminary documents with the Securities and Exchange Board of India (SEBI) by May-end or early June, as the process gathers pace following key regulatory clearances.

Share Markets Live Updates | Sensex, Nifty Today

The proposed listing, one of the most anticipated in India’s capital markets, is expected to be a pure offer-for-sale (OFS), with existing shareholders diluting around 4-4.5 percent stake and no fresh capital being raised.

The exchange’s IPO process has accelerated significantly in recent months. In January 2026, Sebi cleared a major hurdle by allowing NSE to proceed with its listing after years of delays linked to the co-location case. (Reuters) Since then, the bourse has appointed as many as 20 merchant bankers -- an unusually large syndicate for an Indian IPO -- to manage the issue, underscoring the scale and complexity of the offering.

Earlier, Bloomberg news reports suggested that the IPO could involve a stake sale of around 4-4.5 percent and potentially raise between $1.5 billion and $2.5 billion (approximately Rs 23,000 crore), depending on final valuations and market conditions.

NSE’s listing has been in the works for nearly a decade. The exchange first attempted to go public in 2016, but regulatory scrutiny and legal challenges stalled the process for years.