Hopes of the stock market debut for the Indian stock market bourse National Stock Exchange (NSE) have fueled a sharp rally in shares of IFCI Limited so far this year, with the stock gaining another 8% in intraday deals on Monday, 15 June. This marks the second straight day of gains for IFCI as it rallied 20% last Friday amid reports that NSE could take a step further towards its listing journey and file the draft papers for its initial public offering (IPO) this week.
IFCI shares jumped 7.95% to ₹91.36 per share, their fresh 52-week high, amid the prospects of value unlocking for the current shareholders of the company. IFCI has an indirect stake in NSE through Stock Holding Corporation of India Limited (SHCIL).
The PSU NBFC stock holds a 52% stake in SHCIL, which in turn, owns 4.4% of NSE. The company’s indirect stake positions it as a key beneficiary. Investor interest has heightened in the stock as NSE gears for its market debut.
IFCI shares have surged 69% so far in 2026 in anticipation of the public offer.
NSE set to file DRHP this week
According to a PTI report, the long-awaited IPO of NSE is set to move a step closer, with the country’s largest stock exchange expected to file its preliminary papers with Sebi this week, people aware of the matter said. This comes after NSE’s board approved the proposed IPO on February 6, following receipt of Sebi’s no-objection certificate (NOC).
The draft red herring prospectus (DRHP) is likely to be filed on June 15 or June 16, the report added.
The proposed issue is expected to be among the largest in India’s capital markets. NSE, which has around 1.8 lakh shareholders, is valued at over ₹5 lakh crore in the unlisted market, according to market participants.
Life Insurance Corporation of India (LIC) is the single largest shareholder in NSE, holding a 10.72% stake. State Bank of India (SBI) and its subsidiary, SBI Capital Markets, together own around a 7.5% stake in the exchange.
Among foreign investors with significant holdings are Aranda Investments, a subsidiary of Temasek, and Canada Pension Plan Investment Board (CPPIB).
NSE had first filed draft offer documents in 2016 to raise around ₹10,000 crore through an offer for sale by existing shareholders. However, Sebi withheld approval amid concerns related to governance lapses and the co-location case.
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