Unlisted Shares

NSE Unlisted Share Surge as IPO Buzz Heats Up

Saxena Varun 4 min read 25

India’s premier stock exchange, the National Stock Exchange (NSE), is back in the spotlight as its NSE unlisted share price hits ₹2,100, reflecting heightened investor anticipation of a long-awaited NSE IPO. With significant regulatory developments and strong market momentum, the NSE grey market stock that has been in demand for years may finally see a public listing

Investor Sentiment Strengthens on Upcoming IPO Expectations 

After two weeks of steady gains, NSE pre-IPO share have surged from ₹1,680 to ₹2,100. This sharp increase reflects growing confidence that the SEBI IPO approval might soon come through. Retail and institutional investors are closely tracking NSE stock price in the grey market as the possibility of India’s biggest IPO grows stronger. 
 
Regulatory Settlement: The Turning Point 
 
1. Co-Location Controversy & SEBI Scrutiny 
 
The NSE co-location case from 2015 alleged that certain high-frequency traders received preferential access to servers, sparking regulatory action. Though penalties were imposed, the IPO delay due to SEBI investigation stemmed from broader compliance concerns. 

2. ₹1,000 Crore Settlement in Progress 

As reported by The Economic Times, the NSE has proposed a record ₹10 billion regulatory settlement to resolve the matter. With a prior ₹6.4 billion already paid in October 2024, the final approval from SEBI could unlock the path to the NSE IPO listing date. 

SEBI’s Green Signal Expected Soon

At the ASSOCHAM Capital Market Conference, SEBI Chairman Tuhin Kanta Pandey stated: 

  • “The remaining issues are being resolved between NSE and SEBI. I hope it gets cleared soon so we can proceed.” 

This direct confirmation is being seen as a strong signal that the NSE IPO launch date could be near. 

Market Response and Shareholder Trends 

  1. Supply Crunch Fueling Share Price Growth 

According to Narinder Wadhwa (MD, SKI Capital Services): 
We’ve seen rising demand for NSE shares in the grey market. With limited supply and growing excitement about the IPO, prices have surged. 
Investors seeking top unlisted shares to buy in India are now targeting NSE, as large stakeholders are reportedly holding onto their shares, creating a supply shortage. 

  1. NSE Financials Inspire Confidence  

March Quarter Snapshot 
 
1. Operating Margin: Increased from 66% to 74% YoY 

  1. Operating Profi Margin: ₹2,799 crore (down 8% YoY) 
    Despite a slight dip, the margin growth underlines strong financial performance of NSE. 

Despite being India’s largest stock exchange, NSE’s unlisted shares valuation is still conservative: 

  1. NSE P/E Ratio: 35x (projected earnings) 
  2. BSE P/E Ratio: 52.75x 

This valuation gap makes NSE one of the best unlisted stocks in India right now. The recent ₹35 dividend per share only strengthens the bullish sentiment among long-term investors. 

Final Thoughts: Due Diligence Matters 

While interest is surging, experts like Wadhwa warn against speculative buying. 

NSE unlisted share price may be driven by hype. Thorough research is essential before investing in unlisted equity shares

Conclusion

The upcoming NSE IPO 2025 is shaping up to be a milestone for India’s stock market. With NSE share price today reaching new highs in the unlisted market, investors are gearing up for what could be the biggest public offering in years. If regulatory clearance is granted, NSE’s listing will unlock new opportunities for those already invested in its unlisted equity.

FAQ’s:

Q 1: What are NSE unlisted share? 
Ans: NSE unlisted share are equity shares of the National Stock Exchange of India Ltd. that are not yet listed on any public stock exchange. These shares are traded in the grey market or through private transactions before the company’s IPO. 

 
Q 2: Why is the price of NSE unlisted share increasing? 

Ans: The price is rising due to heightened investor demand, limited supply, and strong speculation that NSE’s IPO is nearing. The company’s recent regulatory settlement and solid financial performance have also boosted investor sent

 
Q 3: When will the NSE IPO happen? 
Ans: While no official date is confirmed, recent statements from SEBI and reports of regulatory settlement suggest the IPO may happen soon—possibly in 2025. Investors are advised to stay updated via credible sources like SEBI or Rits Capital. 
 
 
Q 4: How can I buy NSE unlisted share before the IPO? 
Ans: You can buy NSE unlisted share through trusted financial intermediaries, platforms that deal in unlisted equities, or from existing shareholders via off-market transactions. Rits Capital offers seamless access to NSE pre-IPO shares. 
 
Q 5: Is investing in NSE unlisted share risky? 
Ans: Yes, like all unlisted investments, NSE shares carry risks such as low liquidity, price volatility, and limited regulatory protection. However, the company’s dominance and potential listing offer significant upside if timed well.

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