The National Stock Exchange of India (NSE) has approved plans to launch an initial public offering (IPO) through an offer for sale (OFS) by existing shareholders. The IPO will involve the listing of NSE’s equity shares on one or more recognised Indian stock exchanges, subject to regulatory approvals and market conditions.

The move follows NSE receiving a no-objection from SEBI, ending its long wait to go public.

To support the listing process, the board has reconstituted its IPO Committee, which will oversee all IPO-related activities. The committee will be chaired by Tablesh Pandey and will include public interest directors Srinivas Injeti, Prof Mamata Biswal, Abhilasha Kumari, and Prof Sivakumar, along with MD & CEO Ashish Chauhan.

The committee will be responsible for defining listing procedures and appointing merchant bankers and legal advisors for preparing the Draft Red Herring Prospectus (DRHP).

The IPO is expected to be among the largest in India’s capital markets due to NSE’s dominant position in the equity derivatives segment. The exchange has around 1.77 lakh shareholders and is estimated to be valued at over ₹5 lakh crore in the grey market, according to analysts.

NSE’s listing is being closely watched as it is seen as a major milestone for India’s capital markets, given that NSE is the country’s largest stock exchange by trading volumes and plays a key role in the financial system.