NSE’s IPO Expected In Q3 Of FY27 As DRHP Filing May Take Place By June-End

The National Stock Exchange (NSE) may file its draft red herring prospectus (DRHP) by June-end 2026, followed by a listing before December in the fiscal year 2027 (FY27), as reported by CNBC-TV18.

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IPO Timeline And Structure

The proposed initial public offering is expected to be structured as a pure offer-for-sale (OFS), with existing shareholders diluting around 4%–4.5% stake, according to Bloomberg. The offering will not include any fresh issue of shares.

The IPO is estimated to raise between $1.5 billion and $2.5 billion, equivalent to approximately ₹12,500 crore to ₹20,800 crore, depending on final valuations and market conditions, as per Bloomberg.

Regulatory Developments

Listing of shares is now well underway following regulatory approval received at the beginning of the year. In January 2026, SEBI gave the green light to NSE to begin trading, reported Reuters, thereby clearing a major obstacle that had been delaying the entire procedure for several years.

According to previous reports, NSE had planned to submit its initial documents before the end of May or early June 2026; however, the schedule has been pushed back to the end of June.

Merchant Bankers Appointed

The exchange has appointed around 20 merchant bankers to manage the issue, making it one of the largest syndicates for an IPO in India, according to Reuters. The large number of intermediaries reflects the scale and complexity of the proposed public offering.

Long-Pending Listing Plan

The public listing of NSE has been a matter of discussion for almost a decade now. The exchange has made its initial plans for going public since 2016; however, due to regulatory hurdles, the plans have not yet materialized.

According to the current updates, there is some new hope in the timeline of the IPO after some positive regulatory approvals recently. This upcoming IPO will become one of the most important offerings in India.