NSE IPO Process Gains Momentum as Shareholder OFS Begins

02 April 2026

The National Stock Exchange of India (NSE) has taken a significant step toward its long-awaited initial public offering (IPO) by initiating the process to identify selling shareholders through an Offer for Sale (OFS). This development signals renewed traction in the exchange’s listing plans after years of delay.


Shareholders Invited for OFS Participation

As part of the IPO preparation, NSE has reached out to its existing shareholders, inviting them to express their willingness to participate in the OFS component. Shareholders can choose to tender part or all of their holdings, depending on the terms outlined in the offer.
The OFS route indicates that the IPO will largely consist of existing investors offloading shares rather than the company issuing fresh equity.

Deadline and Process Details

Shareholders have been asked to submit their Expression of Interest (EOI) by:
👉 April 27, 2026 (5 PM)

This step is crucial in determining the final pool of selling investors ahead of the public issue.

Eligibility Criteria for Shareholders

To participate in the OFS, shareholders must meet specific conditions:

• Shares must be fully paid-up
• Investors should have held shares continuously since June 15, 2025 (around one year prior to DRHP filing)

Additionally, shareholders who choose to sell their stake through the OFS will not be eligible to apply in the IPO as investors.

What This Means for the IPO

The move marks the formal kickoff of NSE’s IPO process, with the exchange actively identifying stakeholders willing to dilute their holdings.

Reports suggest that the IPO could be entirely OFS-driven, potentially making it one of India’s largest public offerings, with an estimated size exceeding ₹20,000 crore.