NSE Board Approves IPO via OFS: A Decade-Long Listing Journey Nears End

• National Stock Exchange (NSE) board formally approved plans for its long-pending IPO through a pure Offer For Sale (OFS) by existing shareholders.
• NSE has received a no-objection certificate from SEBI, clearing a key regulatory milestone.
• The exchange aims to file its draft red herring prospectus (DRHP) by March-end or early April, potentially using September or December quarter audited financials.
• Around 4.5% of NSE’s equity is likely to be sold, with an estimated issue size of ₹23,000 crore, making it one of India's largest public offerings.
• NSE's expanded shareholder base (1.91 lakh) and the need for shareholder consent for OFS participation present an operational complexity.