NSE files draft papers for India's largest IPO worth over Rs 30,000 crore

The National Stock Exchange of India filed its draft red herring prospectus DRHP on Wednesday launched an initial public offering IPO of up to 148905525 equity shares setting the stage for the countrys largest corporate market debut worth an estimated Rs 30000 croreThe proposed offering is set to surpass the Rs 27859 crore public market debut of Hyundai Motor India in October 2024 to become the biggest initial public offering in Indian historyThe mega public issue by the countrys largest stock exchange marks the culmination of a multiyear effort to list its shares on BSE overcoming an array of regulatory roadblocks that previously stalled its listing ambitionsAccording to the regulatory documents filed with the Securities and Exchange Board of India SEBI on Wednesday night the DRHP outlines a pure offer for sale consisting entirely of existing equity shares with a face value of Re 1 eachInstitutional investors and staterun financial entities lead the list of selling shareholders in the public issue The State Bank of India plans to divest the largest block of shares offloading 2475 million shares MS Strategic Mauritius Limited follows as the secondlargest seller with a proposed sale of 1600 million shares while the Canada Pension Plan Investment Board intends to offload 1187 million shares in the public marketOther major financial institutions trimmed their ownership through the offer for sale Aranda Investments Mauritius Pte Ltd listed 1125 million shares for divestment followed closely by the Bank of Baroda with 1098 million shares and the Stock Holding Corporation of India Limited with 1089 million shares Statebacked insurers also joined the vendor list with the General Insurance Corporation of India proposing a sale of 1066 million shares and The New India Assurance Company Ltd liquidating 1050 million shares National Insurance Company Limited and United India Insurance Company Limited both offered 600 million shares each for saleThe financial statements appended to the DRHP highlighted the financial trajectory of the exchange over the last three fiscal periods For the financial year ended March 31 2026 the exchange recorded a total income of Rs 18713370 million down slightly from Rs 19176831 million in the preceding fiscal year but higher than the Rs 16352062 million reported in the financial year ended March 31 2024Revenue from operations for the year ended March 31 2026 stood at Rs 16601309 million compared to Rs 17140678 million in the fiscal year 2025 and Rs 14780011 million in the fiscal year 2024Total expenses excluding contributions to the Core Settlement Guarantee Fund increased to Rs 5999903 million for the year ended March 31 2026 up from Rs 4806292 million in the previous yearThe core profitability metrics showed resilience despite rising operating costs and exceptional provisions The exchange reported a profit for the year from continuing operations at Rs 10179529 million for the fiscal period ended March 31 2026 down from Rs 11605748 million in the fiscal period ended March 31 2025 but higher than the Rs 8406480 million logged during the fiscal period ended March 31 2024The net profit for the year ended March 31 2026 reached Rs 10302061 million down from Rs 12187689 million in the fiscal year 2025 while total comprehensive income stood at Rs 10371093 million after factoring in other comprehensive income of Rs 69032 millionThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever