NSE India Limited unlisted Share

NSE India Limited — Full Company Profile
Company Overview

The National Stock Exchange of India Ltd. (NSE) is the leading stock exchange in India and the second largest in the world by number of trades in equity shares (Jan–Jun 2018, per World Federation of Exchanges). NSE launched electronic screen-based trading in 1994, derivatives trading (index futures) and internet trading in 2000 — each the first of its kind in India.

NSE was incorporated in 1992, recognized as a stock exchange by SEBI in April 1993, and commenced operations in 1994 with the wholesale debt market segment.

Business Model
NSE has a fully integrated business model comprising: exchange listings, trading services, clearing & settlement services, indices, market data feeds, technology solutions, and financial education offerings. It also oversees compliance by trading/clearing members and listed companies.

Key Milestones

• 1992: Incorporated as a company
• 1993: Recognized as stock exchange by SEBI
• 1994: Launched wholesale debt market & cash market segment
• 1995: NSE Clearing (first clearing corporation in India) established
• 1998: NSE Indices (joint venture with CRISIL) established
• 1999: NSEIT — global technology firm incorporated
• 2000: DotEx (data/info-vending subsidiary) incorporated; internet trading launched
• 2006: NSE Infotech Ltd. incorporated for IT R&D
• 2016: NSE Academy (education) and NSE IFSC Ltd. incorporated

Subsidiaries of NSE
 

Fundamentals (as listed on UnlistedZone)

Share Price Movement & Valuation
NSE is one of the top-performing shares in the unlisted market. Despite broader unlisted markets falling up to 50%, NSE moved from ₹3,400 per share (Aug 2022) to ₹3,700 before settling at ₹1,995. The valuation based on ~50 crore outstanding shares implies a market cap of approx. ₹1,85,000 Crore — up 3x in 3 years.
 

IPO Status
The IPO of NSE has been long-awaited. Past delays were due to SEBI orders over co-location case violations. The co-location case was settled by SAT and the Supreme Court directed SEBI to return ₹1,000 Crore. SEBI filed an appeal which was heard in Sept 2023. IPO timeline remains pending as of 2026.

Lock-in Period

• Venture Capital / Foreign Venture Capital Investors: 6 months from date of acquisition
• AIF-II (Alternative Investment Funds – Category II): No lock-in period
• Retail Investors / HNIs / Body Corporates: 6 months from IPO listing date
• SME IPOs: Lock-in period of 1 year

Regulation introduced by SEBI in August 2021 — reduced from 1 year to 6 months.
 

Taxation on NSE Unlisted Shares

Short-Term Capital Gain (STCG): Held < 2 years — taxed as per applicable income tax slab

Long-Term Capital Gain (LTCG): Held > 2 years — flat 12.5% (changed from 20% via Budget 2024, effective 23 July 2024)

Indexation Benefit: Removed from Budget 2024 (effective 23 July 2024)

After Listing: Post-listing: Listed market tax rates apply; LTCG if held > 1 year from original purchase

Recent News on NSE

• 02 May 2026 — NSE Q4 FY26 Results: PAT down 15%, EBITDA margins compressed, EPS fell from ₹49 to ₹42. Despite rough FY26 headline numbers, underlying business remains strong.
• 13 Apr 2026 — NSE's Big Bet on Coal Trading: India's largest stock exchange stepping into coal trading territory, beyond equities and derivatives.
• 19 Mar 2026 — NSE's Strategic Push into Energy Derivatives: Direct challenge to MCX in energy derivatives trading space.