National Stock Exchange Of India Ltd IPO

Market leader in India - a liquid market for all stakeholders.

Well positioned to benefit from India's structural growth tailwinds which drive strong network effects for NSE.

Strong brand synonymous with trust, efficiency and transparency, across our trading platform as well as our clearing, settlement and market supervisory role.

Track record of comprehensive and innovative offerings delivered through a vertically integrated business model.

Technology platform built for scale and resilience.

Any significant decrease in the volume and value of transactions executed on our stock exchange could significantly reduce demand for our products, constrain our growth, and adversely affect our business, financial condition, results of operations, cash flows, and prospects.

In the three months period ended June 30, 2026 and June 30, 2025, and in Fiscals 2026, 2025 and 2024, we derived 79.44%, 78.20%, 78.65%, 79.55% and 82.07% of our revenue from operations from transaction charges of which our options business contributed 60.17%, 58.84%, 60.22%, 59.47% and 64.62% of our revenue from operations, and our futures business contributed 8.06%, 9.47%, 8.92%, 10.08% and 8.45% of our revenue from operations, respectively. Any failure to maintain or increase our trading volumes, could result in loss of market share, reduced revenue from operations from our transaction charges, and other adverse effects on our business, results of operations, financial condition, and prospects.

We derived 47.00%, 45.60%, 46.78%, 44.48% and 45.26% of our revenue from operations from our top ten trading members in the three months period ended June 30, 2026 and June 30, 2025, and in Fiscals 2026, 2025 and 2024, respectively. Any disruption in the services of these trading members or our inability to onboard new trading members could have an adverse impact on our operations.

Continue to act as a catalyst for new capital formation in India across asset classes and continue to attract new issuers and investors.

Continuing to provide a transparent, orderly, and fair access to all market participants, fostering investor confidence and promoting sustainable growth in capital markets.

Further our commitment to technology infrastructure and continuous modernisation.

Continue to drive market innovation and business diversification.

Automate and organise large markets in India through launch of new products.