SEBI has given the green light to NSE’s roughly Rs 30,000 crore IPO, issuing its observation letter on September 4.

The approval ends a decade-long delay caused by the co-location scandal, which had repeatedly held back the exchange’s public listing plans.

The offer-for-sale issue opens for subscription on September 15, with a BSE listing expected around September 24-25.

NSE will list on the rival BSE rather than its own platform, as exchange rules bar it from trading on itself.

The clearance came a day after the Supreme Court dismissed SEBI’s appeals against NSE in cases linked to the co-location data centre and dark-fibre matters.

Because exchange regulations prevent NSE from listing on its own trading platform, the exchange will debut on the rival Bombay Stock Exchange instead.

The IPO involves an offer of approximately 149 million equity shares, with the overall issue size estimated at around Rs 30,000 crore.

Life Insurance Corporation of India is expected to retain its stake in NSE through the listing, even as several other existing shareholders use the offering to cash out.

The IPO is set to rank among the largest public offerings in Indian stock market history once it completes, given the scale of the offer and NSE’s dominant position in domestic exchange trading.

NSE has long been the largest stock exchange in India by trading volume, making its public listing a closely watched event for both retail and institutional investors.

The approval clears a decade-long regulatory fight tied to the co-location scandal, which had repeatedly delayed the exchange’s plans to go public.

NSE eventually settled with SEBI, paying roughly Rs 1,491 crore, about $155 million, to resolve the matter and clear the path for the IPO.

India’s Supreme Court dismissed SEBI’s appeals against NSE in cases tied to the co-location data centre and dark-fibre matters on September 3, removing a major hurdle just a day before the observation letter was issued.

Photo of the NSE building, Wikimedia Commons, CC BY-SA 4.0

The Sensex fell 373.93 points, or 0.49%, to 76,570.35 on Tuesday, weighed down by a spike in oil prices and rising bond yields.

The Nifty50 closed at 23,914.45, down 141.35 points, or 0.59%, as benchmark indices posted their third straight day of losses.

Overnight strikes exchanged between the US and Iran fuelled fears of oil supply disruptions from the Strait of Hormuz, lifting Brent crude 0.76% to $95.37 a barrel.

Nifty Auto was the worst performer among sectors, down 2%, with IT and Media stocks also lagging, while Oil and Gas, PSU Bank and Realty held up.

Eicher Motors, Wipro and Bajaj Auto featured among the biggest losers on the Nifty50 as rising bond yields dented investor appetite for equities.

Eicher Motors, Wipro and Bajaj Auto were among the top losers on the Nifty50 index during the session.

Broader markets also came under pressure, with the Nifty MidCap index ending 0.53% lower and the Nifty SmallCap index down 0.37%.

This marked the third straight session of losses for the benchmark indices, as rising bond yields further dented investor risk appetite.

Rising bond yields typically make fixed-income investments more attractive relative to equities, prompting some investors to shift allocations away from stocks.

Markets will be closely watching for further developments in the Middle East, given the direct link between regional tensions and global crude oil supply concerns.

The US and Iran exchanged strikes overnight, intensifying fears of further supply disruptions from the Strait of Hormuz, a key global oil shipping route.

Brent crude rose 0.76% to $95.37 per barrel during the session, adding to inflation concerns among investors.

Nifty Auto was the worst-hit sectoral index, declining 2%, with Nifty IT and Nifty Media also underperforming during the session.

In contrast, Nifty Oil and Gas, PSU Bank and Realty indices outperformed, providing some counterbalance to the broader market decline.

Photo of the Bombay Stock Exchange building, Wikimedia Commons, CC BY 2.0

Hy-Tech Engineers’ IPO made a strong market debut on September 1, with shares listing at Rs 75 on the NSE, up 41.51% from the Rs 53 issue price.

The stock extended gains after listing, hitting the 5% upper circuit at Rs 78.75 on the NSE, a total gain of 48.58% over its IPO price.

On the BSE, shares debuted at Rs 72, representing a 35.85% premium over the issue price.

The IPO’s Rs 50-53 price band attracted strong demand, with the issue subscribed 244.41 times overall.

The hydraulic fitting manufacturer raised Rs 135.73 crore through the IPO, and its market valuation stood at approximately Rs 682.94 crore after the debut.

The issue size for the IPO was Rs 135.73 crore, with the mainboard listing on the NSE and BSE having been tentatively planned for September 1 well ahead of the actual debut.

Grey market premium indicators ahead of the listing had signalled a strong debut, with some estimates pointing to gains of up to 81% before the stock’s actual market performance was known.

The overwhelming subscription numbers across all investor categories reflected strong demand for the issue in a market that has seen a mix of hits and misses among recent IPOs.

Upper circuit limits on Indian exchanges cap the maximum single-day price movement for a stock, and Hy-Tech Engineers hitting its 5% upper circuit on debut indicates continued buying interest beyond the opening trade.

Hydraulic fitting manufacturers supply components used across industrial machinery, construction equipment and automotive applications, a sector that has drawn steady investor interest amid India’s infrastructure and manufacturing push.

On the BSE, Hy-Tech Engineers shares debuted at Rs 72, a premium of 35.85% over the issue price, a slightly smaller gain than on the NSE but still a strong listing.

The IPO had a price band of Rs 50-53 per equity share and opened for subscription on August 24, closing on August 27, 2026.

Photo of the NSE building, Wikimedia Commons, CC BY-SA 4.0