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SBI Group to Sell 1% Stake in NSE’s ₹30,000 Crore IPO

By ThePip DeskSBI Group to Sell 1% Stake in NSE’s ₹30,000 Crore IPO

State Bank of India and SBI Capital Markets plan to divest up to 1% in the National Stock Exchange’s massive ₹30,000 crore IPO, confirming participation in one of India’s largest public offers.

State Bank of India (SBI) and its subsidiary, SBI Capital Markets Ltd, are set to divest up to a 1% stake in the National Stock Exchange (NSE) as part of its anticipated ₹30,000 crore initial public offering (IPO).

SBI Chairman C S Setty confirmed the group’s intention to participate in what is expected to be one of India’s largest capital market public offers.

Key Divestment Figures

  • SBI will dilute a 0.65% stake.
  • SBI Capital Markets will sell a 0.35% stake.
  • Totaling approximately 1% from the SBI group.
  • The overall public offer is anticipated at ₹30,000 crore.

The final stake sale could be lower if other shareholders also opt to participate. Currently, SBI holds a 3.23% stake in NSE, while SBI Capital Markets holds 4.33%. SBI has no immediate plans to monetize stakes in its other subsidiaries.

NSE’s Q1 FY27 Performance

NSE reported a 7% increase in its consolidated profit after tax (PAT) to ₹3,120 crore for the June quarter (Q1 FY27), driven by higher operating income.

  • Total income grew by 9% year-on-year, reaching ₹5,252 crore in Q1 FY27.
  • Revenue from transaction charges, NSE’s primary income source, increased to ₹3,623 crore.
  • Data connectivity charges generated ₹258 crore.
  • Operating investment income was ₹234 crore.
  • Data feed and terminal services generated ₹150 crore.
  • Total expenses for the quarter rose to ₹1,129 crore.

Contribution to Exchequer

During Q1 FY27, NSE contributed ₹20,579 crore to the exchequer, with the equity derivatives segment accounting for 57% of total STT/CTT collections.

  • Securities Transaction Tax/Commodities Transaction Tax (STT/CTT): ₹18,313 crore.
  • Stamp duty: ₹980 crore.
  • GST: ₹657 crore.
  • Income tax: ₹373 crore.
  • SEBI fees: ₹256 crore.

NSE filed its preliminary IPO documents with SEBI in June, proposing an offer for sale (OFS) of 14.89 crore equity shares, representing nearly 6% of the exchange’s equity. The IPO, which does not include a fresh issue component, is anticipated to launch by mid-September 2026, with a potential listing by September 25.

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