Drashti Chheda NSE’s IPO Countdown has officially begun. The National Stock Exchange of India (NSE) is finally inching closer to its long-awaited debut on Dalal Street. According to its Managing Director and CEO Ashishkumar Chauhan, the exchange could be listed in the next eight to nine months once it secures the necessary clearance from the Securities and Exchange Board of India (SEBI). That sets the stage for one of the most significant public offerings in India’s capital market history.
Speaking to CNBC TV18, Chauhan noted that the clock for listing starts the day a No Objection Certificate is issued. “From the day that the NOC is received, 8-9 months is what it looks like after that, to the listing date,” he explained. The exchange, however, is no stranger to a wide base of shareholders. Earlier this year, NSE crossed the 1 lakh shareholder mark, prompting a new ISIN number. Today, that number has swelled to more than 1.72 lakh, making it the largest unlisted company in terms of shareholder count.
While NSE’s scale is already formidable, its stock performance in the unlisted market has been equally dramatic. The June quarter witnessed a dizzying rally where the stock soared 60 percent in just two weeks, jumping from ₹1,500 to ₹2,400. Since then, gravity has had its say, and prices have settled into a more range-bound groove between ₹2,000 and ₹2,100. Even so, the valuation remains impressive, with market capitalization hovering between ₹4.95 and ₹5.2 lakh crore. That figure comfortably places NSE among India’s top ten most valuable companies, ahead of well-established giants like Bajaj Finance and Hindustan Unilever.
Globally, NSE’s stature is nothing short of remarkable. It ranks as the world’s largest derivatives exchange by volume and the second largest in equities by number of trades. In terms of overall market capitalization, it is the fifth biggest stock exchange on the planet. The combination of domestic dominance and international credibility makes its upcoming IPO one of the most closely tracked events in recent years.
Interestingly, NSE has also been busy innovating while waiting in the regulatory queue. In June, it launched electricity futures—monthly, cash-settled contracts aimed at taming volatility in the short-term power market. These contracts, listed for the current and next three months, offer a tool for bringing predictability to a sector notorious for price swings. For traders and institutional players alike, this is more than just a product launch; it is a signal that the exchange continues to expand its footprint even before the IPO spotlight shines on it.
For investors, the NSE’s IPO Countdown is more than a timeline, the next eight months are likely to be filled with speculation, recalibration, and plenty of excitement. Prices of NSE shares may remain volatile, especially as more clarity on SEBI’s nod emerges. Yet the overarching theme is unmistakable: once NSE lists, it won’t just be another IPO. It will be a milestone that reshapes the pecking order of India’s most valuable companies.
The stage is set, the players are ready, and the market is watching. NSE’s IPO journey has been long, but if Chauhan’s timeline holds, Dalal Street will soon welcome a heavyweight contender that has already made history before stepping into the ring.
