NSE invites eligible shareholders to participate in OFS ahead of IPO

By Jagat Joshi
March 31, 2026
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NSE (National Stock Exchange), India’s largest stock exchange, has sent a letter asking its shareholders to offer their shares for sale for the launch of its upcoming IPO.

The letter explains how the shareholders can participate in the Offer for Sale, after which NSE will officially launch its IPO.

The NSE is currently trading at ₹1,925 per share in the unlisted market (Source).

NSE IPO Shareholders Eligibility Criteria

Shares must be fully paid-up

Shareholders who have held the unlisted shares of NSE since June 15, 2025, 1 year before the expected DRHP filing, can participate in the OFS.

Conditions

Shareholders who want to offer their shares for sale in the IPO can not apply for this IPO under the investor category.

All shares sold before the IPO (pre-offer shares) cannot be sold or traded for six months.

As per CNBC TV 18, the shareholders who submit the Expression of Interest (EOI) indicate that they are interested in the Offer, but it does not guarantee that they will get shares.

Interested investors must submit their Expression of Interest (EOI) by April 27, 2026.

As of March 12, NSE has finished the process of hiring banks and financial institutions to help with its IPO.

According to CNBC TV 18, we can expect NSE to file its Draft papers by early April.

The sources also indicate that the firm may sell 4.5% of its shares in the IPO. As per the current unlisted share price of NSE, we can expect the IPO to raise about ₹23,000 crore. If this happened, this could be the biggest IPO to launch in India.

The firm has selected 20 book-running lead managers to manage its IPO. After ICICI Prudential AMC, which hired 18 banks, NSE beat the record by hiring 20 banks, helping with an IPO.

The book-running lead managers for NSE’s IPO include:

Kotak Mahindra Capital
JM Financial
Axis Capital
IIFL Capital Services
Motilal Oswal Investment Advisors
ICICI Securities
SBI Capital Markets
Nuvama Wealth Management
HDFC Bank
Avendus Capital
Morgan Stanley India
Citigroup Global Markets India
JPMorgan India
HSBC Securities India
IDBI Capital
360 ONE WAM
Anand Rathi Advisors
DAM Capital Advisors
Pantomath Capital Advisors
Equirus Capital

Jagat Joshi

Founder of IPOWatch, brings nearly 15 years of experience in IPO analysis and market research. He provides complete coverage of upcoming IPOs, subscription trends, grey market premiums (GMP), and post-listing performance, along with easy-to-understand reviews, insights, and analysis. In his working journey, he has worked with various platforms and received expertise in stock market analysis and primary markets.

Jagat Joshi

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Disclaimer: This content is provided strictly for educational and informational purposes. The securities or investments mentioned are not to be considered as investment advice or recommendations. The Investors are advised to do their own research or connect with a financial advisor before making any investment decisions.