SEBI Chairman Says No Proposal Yet for Exchange to Trade Its Own Shares as NSE IPO Subscription Begins

The much-anticipated IPO of the National Stock Exchange (NSE) has commenced, marking a historic moment for India's capital markets.  

The NSE is moving ahead with its public listing through an Offer for Sale (OFS) of up to 12.64 crore shares, despite not trading their shares on its platform. 

SEBI's Position on NSE Trading Its Shares 

As per news reports, SEBI Chairman Tuhin Kanta Pandey has confirmed that the NSE has not submitted any letter regarding plans to trade its shares on its own platform.  

He emphasised that current regulations do not permit such actions, describing it as "too early" to consider. 

NSE IPO Launch Details 

The NSE IPO, entirely structured as an OFS, means NSE will not directly benefit financially from this public issue as the funds will go to existing shareholders divesting their holdings.  

The IPO, which began today, closes on September 21, 2026, after raising ₹6,746 crore from anchor investors, such as LIC, Goldman Sachs, and Fidelity, on September 16, 2026.  

The IPO bid currently stands at 0.50 times its offering as on September 18, 2026, at 10:27 AM. 

Breakdown of NSE IPO Subscription Demand 

As on September 18, 2026, at 10:27 AM, The IPO received bids totalling 4,45,35,552 against the offered 8,86,42,911 shares.  

Subscription levels from different investor categories reported Qualified Institutional Buyers at 0.19x, Non-Institutional Investors at 0.87x, Retail Individual Investors at 0.52x, and Employees at 1.11x. 

Read More: IPO Bidding Alert: Employee Demand Leads Day 1; NSE IPO Subscribed 42%! 

NSE's Financial and Operational Performance 

Established in 1992, NSE has grown into India's largest stock exchange and among the leading global derivatives exchanges. In FY26, NSE reported a revenue of ₹16,601 crore and a profit after tax of ₹10,302 crore, reflecting robust financial health. 

Anchor Investor Participation in NSE IPO 

The IPO anchor book comprised 189 investors, fetching ₹6,746 crore, with foreign investors representing 43%. Major contributors included LIC and other domestic mutual funds and insurers. 

Conclusion 

The NSE IPO's offering of 126.44 million shares marks a critical juncture in India's financial landscape. With a ₹6,746 crore anchor investment and a 0.24 times subscription rate, it exemplifies NSE's central role in the nation's markets. 

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