NSE likely to file IPO DRHP by June, eyes December listing: Sources

Sources have told CNBC-TV18 that the exchange is likely to file its draft red herring prospectus (DRHP) before the end of June this year, with preparatory work currently underway.

By Furquan Moharkan

India's largest stock exchange, National Stock Exchange of India (NSE), is targeting to complete its initial public offering (IPO) by the end of December 2026.

Sources have told CNBC-TV18 that the exchange is likely to file its draft red herring prospectus (DRHP) before the end of June this year, with preparatory work currently underway.

The exchange has hired a record 20 merchant-bankers for the IPO as it plans to offer 4-5% of its stake through an offer-for-sale.

"Pursuant to the NOC issued by SEBI, the board approved an initial public offering of the company through an offer for sale on 6 February 2026. No further comments at this stage," NSE said in response to CNBC-TV18's query.

Earlier, CNBC-TV18 had reported that the exchange is considering diluting a 4-5% stake via an offer-for-sale in its IPO. This could make it one of the largest public issues in the country, with the issue size expected to exceed ₹20,000 crore.

Last month, the exchange said it had appointed 20 merchant-bankers for the IPO, the highest-ever for an Indian public issue. Eight law firms have also been selected to advise on regulatory, documentation, and compliance-related aspects.

The IPO committee, chaired by Srinivas Injeti, approved the appointments following a structured, transparent, and competitive evaluation process.