National Stock Exchange has filed its draft papers with the Securities and Exchange Board of India, opening the way for one of the largest public issues in India. The offer size is expected to be about ₹30,000 crore, with a market value projected near ₹5 lakh crore. The exchange reported profits of nearly ₹10,000 crore in the last financial year, reflecting strong growth.
Analysts highlight that the valuation is around 50 times earnings, which is cheaper than the Bombay Stock Exchange trading at nearly 63 times earnings. This discount of almost 20% is seen as a long term opportunity for investors. Experts believe the IPO will attract strong foreign and domestic demand, given NSE’s monopoly‑like position and steady cash flows.
The issue will be listed only on the Bombay Stock Exchange, which may benefit from higher trading volumes in cash and futures. Large shareholders including State Bank of India, IFCI, Life Insurance Corporation and foreign funds are expected to sell part of their holdings. IFCI’s indirect stake is valued near ₹12,000 crore, while LIC’s holdings are worth close to ₹50,000 crore.
Retail investors are advised to watch pricing carefully. If valuation remains reasonable, experts recommend holding the shares for long term gains while being prepared for short term volatility.