{"id":118857,"date":"2026-06-16T10:13:30","date_gmt":"2026-06-16T04:43:30","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=118857"},"modified":"2026-06-16T10:13:32","modified_gmt":"2026-06-16T04:43:32","slug":"nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/","title":{"rendered":"NSE IPO Likely to File DRHP by Thursday; Eyes Rs 5 Lakh Crore Valuation"},"content":{"rendered":"<div class=\"meta-block\"><\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>NSE IPO DRHP filing expected by Thursday June 19, 2026. Pure OFS, no fresh issue. Expected issue size Rs 21,000-25,000 crore. Unlisted market valuation Rs 5 lakh crore+. LIC holds 10.72% stake.<\/em><\/p>\n<p>The <strong>NSE IPO<\/strong> is edging closer to reality with media reports citing sources familiar with the matter indicating that the National Stock Exchange of India is likely to file its Draft Red Herring Prospectus (DRHP) with SEBI by Thursday, June 19, 2026. Earlier timeline reports had suggested June 15-16 as the DRHP filing date. The <strong>NSE IPO<\/strong> is expected to be a pure OFS (Offer for Sale) issue with no fresh shares, targeting a valuation of Rs 5 lakh crore-plus in what could become India&#8217;s largest-ever public issue. The DRHP filing, when confirmed, would formally set the clock ticking on the decade-long listing journey of the world&#8217;s largest derivatives exchange by volume.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=nse-ipo-drhp-filing-june-2026-5-lakh-crore\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#NSE_IPO_Key_Parameters_at_a_Glance\" title=\"NSE IPO: Key Parameters at a Glance\">NSE IPO: Key Parameters at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#NSE_IPO_DRHP_Filing_What_the_Delay_to_Thursday_Means\" title=\"NSE IPO DRHP Filing: What the Delay to Thursday Means\">NSE IPO DRHP Filing: What the Delay to Thursday Means<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#NSE_IPO_Impact_on_Listed_NSE_Proxy_Stocks\" title=\"NSE IPO Impact on Listed NSE Proxy Stocks\">NSE IPO Impact on Listed NSE Proxy Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#NSE_IPO_Background_From_2016_DRHP_to_2026_Milestone\" title=\"NSE IPO Background: From 2016 DRHP to 2026 Milestone\">NSE IPO Background: From 2016 DRHP to 2026 Milestone<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#Conclusion_NSE_IPO_DRHP_Expected_by_Thursday_June_19_2026\" title=\"Conclusion: NSE IPO DRHP Expected by Thursday, June 19, 2026\">Conclusion: NSE IPO DRHP Expected by Thursday, June 19, 2026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#When_is_NSE_likely_to_file_its_DRHP_for_the_IPO\" title=\"When is NSE likely to file its DRHP for the IPO?\">When is NSE likely to file its DRHP for the IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#What_is_the_NSE_IPO_valuation_and_why_is_it_significant\" title=\"What is the NSE IPO valuation and why is it significant?\">What is the NSE IPO valuation and why is it significant?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#What_is_the_structure_of_the_NSE_IPO_%E2%80%93_fresh_issue_or_OFS\" title=\"What is the structure of the NSE IPO &#8211; fresh issue or OFS?\">What is the structure of the NSE IPO &#8211; fresh issue or OFS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#Who_are_the_key_shareholders_of_NSE_ahead_of_its_IPO\" title=\"Who are the key shareholders of NSE ahead of its IPO?\">Who are the key shareholders of NSE ahead of its IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#Why_did_NSEs_IPO_get_delayed_for_so_long\" title=\"Why did NSE&#8217;s IPO get delayed for so long?\">Why did NSE&#8217;s IPO get delayed for so long?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#What_is_NSEs_financial_performance_ahead_of_the_IPO\" title=\"What is NSE&#8217;s financial performance ahead of the IPO?\">What is NSE&#8217;s financial performance ahead of the IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#How_does_the_NSE_IPO_affect_IFCI_and_BSE_stocks\" title=\"How does the NSE IPO affect IFCI and BSE stocks?\">How does the NSE IPO affect IFCI and BSE stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/nse-ipo-drhp-filing-thursday-june-19-5-lakh-crore-valuation-2026\/#What_will_the_NSE_IPO_mean_for_Indias_capital_markets\" title=\"What will the NSE IPO mean for India&#8217;s capital markets?\">What will the NSE IPO mean for India&#8217;s capital markets?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"NSE_IPO_Key_Parameters_at_a_Glance\"><\/span><strong>NSE IPO: Key Parameters at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below summarises the complete set of parameters for the <strong>NSE IPO<\/strong> that investors and market watchers need to track ahead of the Thursday, June 19 DRHP filing.<\/p>\n<table style=\"width: 100%; border-collapse: collapse; margin: 16px 0;\">\n<thead>\n<tr style=\"background: #000000;\">\n<th style=\"color: #ffffff; padding: 8px 12px; text-align: left; font-size: 13px;\">Parameter<\/th>\n<th style=\"color: #ffffff; padding: 8px 12px; text-align: left; font-size: 13px;\">Detail<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Company<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">National Stock Exchange of India Limited (NSE)<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Expected DRHP Filing<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">By Thursday, June 19, 2026 (per media reports)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Issue Structure<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Pure OFS (Offer for Sale) &#8211; no fresh shares<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Expected Issue Size<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Rs 21,000-25,000 crore (up to 5% dilution by existing shareholders)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Unlisted Market Valuation<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Rs 5 lakh crore+ (as of June 2026)<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">If Listed at Rs 5 Lakh Crore<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">India&#8217;s largest-ever IPO by issue size<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Total Shareholders<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Approximately 1.8 lakh shareholders<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Largest Shareholder<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">LIC: 10.72%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">SEBI NOC<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">January 30, 2026<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Board IPO Approval<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">February 6, 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">NSE Q4 FY26 PAT<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Rs 2,871 crore (+8% YoY)<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">NSE Q4 FY26 Total Income<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Rs 5,360 crore (+22% YoY)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Co-Location Settlement<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Rs 1,388 crore (settled with SEBI in 2025)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div style=\"background: #E8EAFF; border-radius: 14px; padding: 28px 32px 24px 32px; margin: 24px 0; font-family: -apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,sans-serif; cursor: pointer; max-width: 100%; box-sizing: border-box;\">\n<p style=\"font-size: 20px; font-weight: bold; color: #0a0a23; margin: 0 0 12px 0; line-height: 1.3;\">3 Stocks Building Serious Momentum Right Now<\/p>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 14px 0; line-height: 1.6;\">When <strong style=\"color: #0a0a23;\">Univest analysts<\/strong> identify high-conviction opportunities, <em>investors pay attention.<\/em><\/p>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 14px 0; line-height: 1.6;\">Our research team has shortlisted the <strong style=\"color: #0a0a23;\">Top Stocks to Buy<\/strong> based on current market momentum, sector trends &amp; growth potential for 2026.<\/p>\n<ul style=\"margin: 0 0 16px 20px; padding: 0; color: #3a3a5c; font-size: 15px; line-height: 1.8;\">\n<li>Discover stocks investors are actively accumulating<\/li>\n<li>High-conviction picks backed by research<\/li>\n<li>Designed for the next phase of market growth<\/li>\n<\/ul>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 20px 0;\">Unlock the latest <a style=\"color: #3b7fff; font-weight: bold; text-decoration: none;\" href=\"https:\/\/univest.in\/user\/log-in?redirectUrl=%2Fuser%2Fpayment%3FplanType%3DALL_PRO%2BPLANS%26cacheClear%3D1780639629052\">Top Stock Picks<\/a> on Univest<\/p>\n<p><a style=\"display: inline-block; background: #3B7FFF; color: #fff; font-size: 15px; font-weight: 600; padding: 13px 28px; border-radius: 50px; letter-spacing: 0.2px; text-decoration: none;\" href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=nse-ipo-drhp-filing-june-2026-5-lakh-crore\" target=\"_blank\" rel=\"noopener\">See the Stocks \u2192<\/a><\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"NSE_IPO_DRHP_Filing_What_the_Delay_to_Thursday_Means\"><\/span><strong>NSE IPO DRHP Filing: What the Delay to Thursday Means<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>NSE IPO<\/strong> DRHP filing was initially expected on June 15-16 based on reports citing bankers familiar with the process. The slight extension to Thursday, June 19 is not unusual for a process of this scale. An <strong>NSE IPO<\/strong> DRHP requires sign-offs from approximately 20 Book Running Lead Managers (BRLMs), legal counsel, statutory auditors, and SEBI-mandated disclosures &#8211; a process that can take additional days to finalise compared to a standard IPO. The Thursday target is still within the June 2026 window that NSE had committed to its bankers and SEBI.<\/p>\n<p>Ankit Jaiswal, Senior Research Analyst at Univest, notes that the <strong>NSE IPO<\/strong> DRHP filing date itself is important for two reasons. First, it starts SEBI&#8217;s review clock &#8211; SEBI typically takes 30-75 days to process a DRHP and issue observation letters. Second, the DRHP will contain the first public disclosure of NSE&#8217;s complete shareholder list, exact OFS size, and formal financials &#8211; all of which will be scrutinised by analysts and investors to sharpen the Rs 5 lakh crore-plus valuation estimate. The <strong>NSE IPO<\/strong> DRHP filing will therefore be a major market event in itself.<\/p>\n<p>Kunal Singla, Associate Director at Univest, observes that the <strong>NSE IPO<\/strong> filing at Rs 5 lakh crore-plus is strategically timed. The market context is favourable: Nifty at 23,856 levels, FII buying resuming, and primary market confidence returning after the West Asia crisis. The <strong>NSE IPO<\/strong> is the anchor event for India&#8217;s primary market in the second half of 2026, and a successful filing will likely catalyse a broader revival in mainboard IPO activity.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Track NSE IPO proxy stocks and upcoming IPO activity on the Univest Screener<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"NSE_IPO_Impact_on_Listed_NSE_Proxy_Stocks\"><\/span><strong>NSE IPO Impact on Listed NSE Proxy Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several listed stocks are indirect beneficiaries of the <strong>NSE IPO<\/strong> process. The table below summarises the key proxy stocks that are in focus as the NSE IPO DRHP filing approaches Thursday.<\/p>\n<table style=\"width: 100%; border-collapse: collapse; margin: 16px 0;\">\n<thead>\n<tr style=\"background: #000000;\">\n<th style=\"color: #ffffff; padding: 8px 12px; text-align: left; font-size: 13px;\">NSE Proxy Stock<\/th>\n<th style=\"color: #ffffff; padding: 8px 12px; text-align: left; font-size: 13px;\">NSE Connection<\/th>\n<th style=\"color: #ffffff; padding: 8px 12px; text-align: left; font-size: 13px;\">Impact<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\"><a href=\"https:\/\/univest.in\/stocks\/ifci\/ifci-ltd-share-price-today\">IFCI<\/a><\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Owns 52.86% of SHCIL, which holds 4.4% NSE stake (2.3% indirect NSE exposure)<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Direct valuation unlocking as NSE listing approaches<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\"><a href=\"https:\/\/univest.in\/stocks\/niacl\/new-india-assurance-company-ltd-share-price-today\">New India Assurance<\/a><\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Direct NSE shareholder<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Stake value increases as NSE IPO valuation confirmed<\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\"><a href=\"https:\/\/univest.in\/stocks\/bse\/bse-ltd-share-price-today\">BSE<\/a> Ltd<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">India&#8217;s other major stock exchange<\/td>\n<td style=\"padding: 8px 12px; border-bottom: 1px solid #E0E0E0;\">Re-rates as NSE listing establishes exchange sector valuations<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Among the <strong>NSE IPO<\/strong> proxies, IFCI has been the most reactive, rising 7.7% to Rs 89 on June 15 and continuing to attract attention on June 16 as the Thursday DRHP deadline approaches. IFCI&#8217;s indirect NSE stake through SHCIL (52.86% of SHCIL \u00d7 4.4% NSE stake = 2.3% effective NSE exposure) creates a leveraged exposure to the <strong>NSE IPO<\/strong> valuation. At a Rs 5 lakh crore NSE valuation, IFCI&#8217;s indirect NSE stake is valued at approximately Rs 11,500 crore, which is a significant component of IFCI&#8217;s total market capitalisation.<\/p>\n<p>BSE Ltd is the second-order beneficiary of the <strong>NSE IPO<\/strong>. When NSE lists and its exchange-sector valuation multiples become public, BSE&#8217;s market cap will be benchmarked against NSE&#8217;s listed valuation. Currently, BSE trades at a substantial discount to what exchange-sector P\/E multiples would imply post-<strong>NSE IPO<\/strong> listing. BSE&#8217;s stock is widely expected to re-rate higher once the NSE IPO provides a public valuation anchor for Indian exchange infrastructure.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"NSE_IPO_Background_From_2016_DRHP_to_2026_Milestone\"><\/span><strong>NSE IPO Background: From 2016 DRHP to 2026 Milestone<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>NSE IPO<\/strong>&#8216;s history spans over a decade. NSE first filed its DRHP with SEBI in December 2016 for a Rs 10,000 crore OFS. However, in May 2019, SEBI issued an order barring NSE from accessing capital markets for six months due to governance lapses in the co-location case. NSE settled this case in 2025 by paying Rs 1,388 crore to SEBI &#8211; the largest-ever settlement plea with the regulator. SEBI issued its NOC on January 30, 2026, and NSE&#8217;s board formally approved the IPO plan on February 6, 2026. The June 19 DRHP filing target marks the culmination of a 10-year wait for NSE&#8217;s 1.8 lakh shareholders.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track live NSE IPO updates and proxy stock alerts.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_NSE_IPO_DRHP_Expected_by_Thursday_June_19_2026\"><\/span><strong>Conclusion: NSE IPO DRHP Expected by Thursday, June 19, 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>NSE IPO<\/strong> is on the verge of its most important milestone &#8211; the DRHP filing &#8211; with media reports indicating the target date is Thursday, June 19, 2026. The <strong>NSE IPO<\/strong> is expected to be a pure OFS at a Rs 5 lakh crore-plus valuation, making it India&#8217;s largest-ever public issue. Ankit Jaiswal and Kunal Singla at Univest note that the DRHP filing will trigger institutional investor scrutiny of NSE&#8217;s detailed financials and shareholder structure, potentially further sharpen the valuation, and set the stage for a post-SEBI approval listing before December 2026. Investors seeking listed exposure to the <strong>NSE IPO<\/strong> theme can track IFCI and BSE Ltd as proxy plays.<\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"When_is_NSE_likely_to_file_its_DRHP_for_the_IPO\"><\/span><strong>When is NSE likely to file its DRHP for the IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> According to media reports citing sources familiar with the matter, NSE is likely to file its Draft Red Herring Prospectus (DRHP) with SEBI by Thursday, June 19, 2026. Earlier reports had suggested June 15-16 as the filing date, but the timeline has extended slightly. Once the DRHP is filed and SEBI approves it, the actual NSE IPO is expected to open before December 2026, making it India&#8217;s largest-ever public issue.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_NSE_IPO_valuation_and_why_is_it_significant\"><\/span><strong>What is the NSE IPO valuation and why is it significant?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> NSE is valued at over Rs 5 lakh crore in the unlisted market as of June 2026. At this valuation, the NSE IPO would be India&#8217;s largest-ever public issue, significantly exceeding previous records. The IPO is structured as a pure OFS (Offer for Sale) with up to 5% of shares being sold by existing shareholders. At Rs 5 lakh crore, an OFS of up to 5% would generate Rs 25,000 crore in proceeds for selling shareholders.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_structure_of_the_NSE_IPO_%E2%80%93_fresh_issue_or_OFS\"><\/span><strong>What is the structure of the NSE IPO &#8211; fresh issue or OFS?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The NSE IPO is expected to be structured entirely as an Offer for Sale (OFS), with no fresh issue of shares. This means existing shareholders will sell a portion of their NSE shares to new investors, but NSE itself will not receive any IPO proceeds. The expected OFS is up to 5% of NSE&#8217;s equity capital, with multiple institutional shareholders likely to participate as sellers. LIC, the largest shareholder with 10.72%, is expected to be among the potential OFS participants.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Who_are_the_key_shareholders_of_NSE_ahead_of_its_IPO\"><\/span><strong>Who are the key shareholders of NSE ahead of its IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> NSE has approximately 1.8 lakh shareholders. The largest is Life Insurance Corporation of India (LIC) with a 10.72% stake, which would make it a significant OFS seller in the IPO. Other major shareholders include domestic financial institutions (IFCI through SHCIL), private equity firms that have held NSE stakes for years (including Tiger Global, Aranda Investments, SAIF Partners from the 2016 IPO plan), and domestic banks. Many of these shareholders have been waiting for over a decade for NSE&#8217;s IPO to monetise their investments.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_NSEs_IPO_get_delayed_for_so_long\"><\/span><strong>Why did NSE&#8217;s IPO get delayed for so long?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> NSE first filed its DRHP in December 2016 for a Rs 10,000 crore IPO. However, SEBI issued an order in May 2019 barring NSE from capital markets for six months due to alleged governance lapses in the co-location case, where certain traders allegedly had unfair first access to market data. The IPO remained on hold until SEBI issued a No Objection Certificate (NOC) on January 30, 2026, after NSE settled the co-location case by paying Rs 1,388 crore &#8211; the largest-ever settlement plea with SEBI. The NSE board formally approved the IPO on February 6, 2026.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_NSEs_financial_performance_ahead_of_the_IPO\"><\/span><strong>What is NSE&#8217;s financial performance ahead of the IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> NSE reported strong Q4 FY26 results: consolidated PAT of Rs 2,871 crore (+8% YoY) and total income of Rs 5,360 crore (+22% YoY). Sequentially, Q4 FY26 PAT was up 19% from Rs 2,409 crore in Q3 FY26. The growth was driven by rising trading volumes, particularly in equity derivatives. On an annual basis, NSE&#8217;s total revenue grew 28% to Rs 16,352 crore in FY24 (latest annual data), with post-tax profit at Rs 8,306 crore. These financials support the Rs 5 lakh crore-plus unlisted market valuation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_does_the_NSE_IPO_affect_IFCI_and_BSE_stocks\"><\/span><strong>How does the NSE IPO affect IFCI and BSE stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> IFCI is the most direct NSE proxy in the listed market. IFCI owns 52.86% of SHCIL, which holds 4.4% of NSE, giving IFCI an effective 2.3% indirect NSE exposure. A confirmed NSE IPO DRHP filing could trigger another sharp move in IFCI. BSE Limited is also a beneficiary because the NSE listing will establish exchange sector valuation benchmarks, potentially prompting re-rating of BSE&#8217;s stock. BSE currently trades at a significant discount to what the implied exchange sector P\/E would be if NSE lists at Rs 5 lakh crore valuation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_will_the_NSE_IPO_mean_for_Indias_capital_markets\"><\/span><strong>What will the NSE IPO mean for India&#8217;s capital markets?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The NSE IPO will be a landmark event for India&#8217;s capital markets for several reasons. It will be the largest IPO in India&#8217;s history by issue size (at Rs 5 lakh crore valuation). It will bring the world&#8217;s largest derivatives exchange by volume into the listed space, giving retail investors direct equity exposure to India&#8217;s market infrastructure. It will also potentially unlock value for 1.8 lakh shareholders who have held NSE stakes for years. The listing is expected before December 2026, marking the culmination of a decade-long listing journey.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"When is NSE likely to file its DRHP for the IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"According to media reports citing sources familiar with the matter, NSE is likely to file its Draft Red Herring Prospectus (DRHP) with SEBI by Thursday, June 19, 2026. Earlier reports had suggested June 15-16 as the filing date, but the timeline has extended slightly. Once the DRHP is filed and SEBI approves it, the actual NSE IPO is expected to open before December 2026, making it India's largest-ever public issue.\"}},{\"@type\":\"Question\",\"name\":\"What is the NSE IPO valuation and why is it significant?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"NSE is valued at over Rs 5 lakh crore in the unlisted market as of June 2026. At this valuation, the NSE IPO would be India's largest-ever public issue, significantly exceeding previous records. The IPO is structured as a pure OFS (Offer for Sale) with up to 5% of shares being sold by existing shareholders. At Rs 5 lakh crore, an OFS of up to 5% would generate Rs 25,000 crore in proceeds for selling shareholders.\"}},{\"@type\":\"Question\",\"name\":\"What is the structure of the NSE IPO - fresh issue or OFS?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The NSE IPO is expected to be structured entirely as an Offer for Sale (OFS), with no fresh issue of shares. This means existing shareholders will sell a portion of their NSE shares to new investors, but NSE itself will not receive any IPO proceeds. The expected OFS is up to 5% of NSE's equity capital, with multiple institutional shareholders likely to participate as sellers. LIC, the largest shareholder with 10.72%, is expected to be among the potential OFS participants.\"}},{\"@type\":\"Question\",\"name\":\"Who are the key shareholders of NSE ahead of its IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"NSE has approximately 1.8 lakh shareholders. The largest is Life Insurance Corporation of India (LIC) with a 10.72% stake, which would make it a significant OFS seller in the IPO. Other major shareholders include domestic financial institutions (IFCI through SHCIL), private equity firms that have held NSE stakes for years (including Tiger Global, Aranda Investments, SAIF Partners from the 2016 IPO plan), and domestic banks. 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The NSE board formally approved the IPO on February 6, 2026.\"}},{\"@type\":\"Question\",\"name\":\"What is NSE's financial performance ahead of the IPO?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"NSE reported strong Q4 FY26 results: consolidated PAT of Rs 2,871 crore (+8% YoY) and total income of Rs 5,360 crore (+22% YoY). Sequentially, Q4 FY26 PAT was up 19% from Rs 2,409 crore in Q3 FY26. The growth was driven by rising trading volumes, particularly in equity derivatives. On an annual basis, NSE's total revenue grew 28% to Rs 16,352 crore in FY24 (latest annual data), with post-tax profit at Rs 8,306 crore. These financials support the Rs 5 lakh crore-plus unlisted market valuation.\"}},{\"@type\":\"Question\",\"name\":\"How does the NSE IPO affect IFCI and BSE stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"IFCI is the most direct NSE proxy in the listed market. IFCI owns 52.86% of SHCIL, which holds 4.4% of NSE, giving IFCI an effective 2.3% indirect NSE exposure. A confirmed NSE IPO DRHP filing could trigger another sharp move in IFCI. BSE Limited is also a beneficiary because the NSE listing will establish exchange sector valuation benchmarks, potentially prompting re-rating of BSE's stock. BSE currently trades at a significant discount to what the implied exchange sector P\/E would be if NSE lists at Rs 5 lakh crore valuation.\"}},{\"@type\":\"Question\",\"name\":\"What will the NSE IPO mean for India's capital markets?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The NSE IPO will be a landmark event for India's capital markets for several reasons. It will be the largest IPO in India's history by issue size (at Rs 5 lakh crore valuation). It will bring the world's largest derivatives exchange by volume into the listed space, giving retail investors direct equity exposure to India's market infrastructure. It will also potentially unlock value for 1.8 lakh shareholders who have held NSE stakes for years. The listing is expected before December 2026, marking the culmination of a decade-long listing journey.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NSE IPO DRHP filing expected by Thursday, June 19, 2026. Pure OFS structure, Rs 5 lakh crore-plus valuation &#8211; could be India&#8217;s largest-ever IPO. NSE Q4 FY26 PAT Rs 2,871 crore. IFCI and BSE are key proxy plays. Analysis by Ankit Jaiswal and Kunal Singla at Univest.<\/p>\n","protected":false},"author":34,"featured_media":118871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[4677],"class_list":["post-118857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-nse-to-file-drhp"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_lock":["1781585029:23"],"_last_editor_used_jetpack":["block-editor"],"rank_math_primary_category":["842"],"rank_math_seo_score":["77"],"rank_math_title":["NSE IPO Likely to File DRHP by Thursday; Eyes Rs 5 Lakh Crore Valuation"],"rank_math_description":["NSE IPO: India's National Stock Exchange is likely to file its Draft Red Herring Prospectus with SEBI by Thursday, June 19, 2026. 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