NSE files draft papers for long-awaited IPO

The National Stock Exchange of India (NSE) has filed its draft red herring prospectus with SEBI for its long-awaited IPO, comprising an offer for sale of up to 149 million equity shares by existing institutional shareholders at an expected valuation of about Rs 29,780 crore. The exchange, which must list on BSE as Indian stock exchanges cannot list on their own platform, reported a 3 percent year-on-year decline in FY26 revenue to Rs 16,601 crore and a 15 percent drop in profit to Rs 10,302 crore. BSE shares fell 3.81 percent on the news of the rival filing, with SEBI's review of the DRHP expected to take 30 to 90 days.