The National Stock Exchange (NSE) is reportedly targeting a valuation of up to $55 billion (around ₹5.26 lakh crore) for its much-awaited initial public offering (IPO), potentially making it one of India’s largest-ever listings. During its investor roadshow, NSE has been marketing shares at around ₹2,000–₹2,100 apiece, though the final price and deal structure could still change. The exchange has completed most of its global roadshow, covering financial centres including Boston, New York, San Francisco, London, Singapore and Hong Kong, with meetings in the Middle East still pending. Around 120 major global institutional investors, including BlackRock, Capital Group, GQG Partners, Janus Henderson and Allspring Global Investments, reportedly participated in the meetings.

The IPO timeline has, however, been pushed back. SEBI approval for the draft prospectus has been delayed by about three weeks following changes to the list of selling shareholders, including the addition of SBI Capital Markets. Because the amended documents require a 21-day public review period, the IPO is now expected to launch in the second half of September 2026. The proposed issue is expected to be an offer for sale by existing shareholders, meaning NSE itself would not receive the IPO proceeds.