NSE’s Rs 20,000 crore mega IPO gears up for launch: Who can sell shares via OFS? Check eligibility, rules, deadlines and more – News Air Insight

The much-awaited initial public offering (IPO) of the National Stock Exchange (NSE) is gearing up for launch, and investors are actively waiting for the stock exchange to file its draft IPO papers with market regulator Sebi. The proposed maiden issue of the stock exchange could reportedly raise over Rs 20,000 crore from India’s primary markets, and will solely comprise an offer for sale (OFS) component with no fresh issue.

This means that all of the IPO proceeds will go to the selling shareholders and none will be received by the company. As per reports, the draft red herring prospectus (DRHP) could be filed in June this year.

Who can sell shares in the OFS?

Shareholders who have continuously held fully paid-up NSE shares since June 2025 will be eligible to sell shares in the IPO, as per Sebi norms. This prevents buyers from making a last-minute entry into the unlisted markets only to profit from the IPO.Also read: D-Street superstars go crash hunting: What Ashish Kacholia, Mukul Agrawal and others bought in March quarter?

Therefore, if an investor buys unlisted shares of NSE right now, they will not be eligible to participate in the IPO. Further, eligible shareholders must submit their ‘Expression of Interest’ (EOI) by April 27, 2026, to participate in the OFS. Shareholders who miss this IPO will not be able to participate in the OFS component of the IPO.

Under Securities and Exchange Board of India (Sebi) rules, existing shareholders can sell all or part of their holdings in an IPO only if the shares have been held continuously for at least one year before the filing of the draft IPO papers. NSE plans to sell about 4.5% of its equity in the secondary sale.

The bourse had 1,59,394 shareholders as of June 30, 2025, up from 39,201 as of March 31, 2025, according to its website. The count rose further to 186,481 as of December 31, 2025.Also read: Trent vs DMart: Which retailer’s shares should you buy now?

Earlier last month, NSE appointed 20 banks to run the offering, breaking the previous record of 18 bookrunners tapped by ICICI Prudential Asset Management Company for its listing last year. NSE also hired eight law firms to advise on the transaction. The exchange in February set up a committee and named Rothschild & Co. as an independent adviser to oversee the selection process.

(With inputs from agencies)

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