The National Stock Exchange (NSE) is preparing to launch its much-anticipated initial public offering (IPO), which could raise over ₹20,000 crore (approximately $2.4 billion USD) through an offer for sale (OFS). Unlike traditional IPOs, this offering will not include a fresh issue of shares, meaning all proceeds will go directly to selling shareholders. To qualify for selling shares in the OFS, shareholders must have continuously held fully paid-up NSE shares since June 2025, adhering to the Securities and Exchange Board of India (Sebi) regulations. Interested shareholders are required to submit their Expression of Interest by April 27, 2026, to participate. As of June 30, 2025, NSE had 159,394 shareholders, a significant increase from 39,201 in March 2025. The exchange has appointed 20 banks to manage the offering and engaged eight law firms for legal advice, indicating the scale and importance of this IPO.