National Stock Exchange filed its Draft Red Herring Prospectus with SEBI on June 17, 2026, for an estimated ₹30,000 crore initial public offering. The Offer for Sale of up to 148.9 million shares represents nearly 6% of the company and is expected to become India's largest IPO, surpassing the ₹27,858.80 crore issue by Hyundai Motor India. The shares will list on BSE, as regulations prohibit an exchange from listing on its own platform.

The IPO proceeds will go entirely to existing shareholders, including SBI, Morgan Stanley, and Canada Pension Plan Investment Board, as NSE will not receive any funds. LIC, the single largest shareholder with a 10.72% stake, is not participating in the sale. The issue is managed by a syndicate of investment bankers, including Kotak Mahindra Capital and Morgan Stanley India.

NSE's journey to the public markets follows a ₹1,300 crore settlement with SEBI in January 2026 over a co-location controversy, which had previously derailed its 2016 listing attempt. The board approved the fresh DRHP filing on February 6, 2026. The exchange, incorporated in 1992, eliminated manual trading by 1999 and launched its derivatives segment in 2000.

In FY26, NSE retained its position as the world's largest equity derivatives exchange, handling 51.18% of global equity derivatives contracts. Its share of global cash equity trades stood at 11.38%. Financial performance for the year showed a 3% decline in revenue to ₹16,601 crore and a 15% drop in net profit to ₹10,302 crore.

Ownership of NSE is subject to strict regulations to prevent concentration of control. No foreign or domestic entity can own more than 5% without regulatory approval, though banks and insurance companies can hold up to 15%. The proposed IPO offers investors a stake in an exchange that dominates the Indian cash market and ranks third globally by cash equity trades.

The National Stock Exchange of India (NSE) has announced an extension of equity derivatives trading hours to 3:40 PM, effective August 3, 2026. The move is aimed at aligning the derivatives segment's trading schedule with the newly introduced closing auction session in the cash market.

Key Details of the Change

The following table outlines the key parameters of the announced change:

Alignment with Cash Market Closing Auction Session

The extension of equity derivatives trading hours is directly linked to the introduction of a new closing auction session in the cash market. By extending derivatives trading to 3:40 PM, NSE ensures that both segments operate in a coordinated manner, facilitating a more synchronized market close across equity and derivatives platforms.

Implications for Market Participants

Market participants trading in equity derivatives on NSE will need to take note of the revised trading hours ahead of the August 3, 2026 implementation date. The change affects the end-of-day trading window for equity derivatives, requiring participants to adjust their trading strategies and operational processes accordingly.

• Segment: Equity Derivatives
• Revised Close Time: 3:40 PM
• Effective From: August 3, 2026
• Alignment Purpose: New Closing Auction Session in Cash Market

This regulatory update by NSE reflects ongoing efforts to harmonize trading timings across market segments, ensuring consistency and operational efficiency for all market participants.