Rare Indian Shares ( by Ashwani K Aggarwal ): Altius Investech on NSE-- lPO-Message Received

June 24, 2026

Altius Investech on NSE-- lPO-Message Received

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NSE IPO Update: DRHP Filed, Bringing the Long-Awaited Listing Closer to Reality

Pleased to present an update on the National Stock Exchange (NSE), which has officially filed its DRHP with SEBI, marking a major milestone in its long-awaited journey towards a public listing. The proposed IPO, estimated at ₹30,000–32,000 Cr, is expected to be a 100% Offer for Sale (OFS).

Key Highlights:

- DRHP Filed: After nearly a decade of regulatory developments, NSE has taken a significant step towards becoming a listed company.
- Exceptional Wealth Creation: Altius identified NSE at around ₹650 per share in 2017 in the unlisted market. Investors who remained invested through the company's growth journey and subsequent bonus and stock split benefits have seen the investment translate into an effective value of approximately ₹10,000 per share today, representing over 15x returns, excluding dividends.
- Strong Financial Growth: NSE's revenue grew from ₹2,104 Cr in FY17 to ₹16,601 Cr in FY26, while PAT increased from ₹1,219 Cr to ₹10,371 Cr, highlighting the strength of its business model.
- Industry-Leading Profitability: NSE reported EBITDA of ₹11,225 Cr and PAT of ₹10,371 Cr in FY26, reflecting strong operating leverage and market leadership.
- Value Unlocking Opportunity: Despite its scale and profitability, NSE continues to trade at a discount to BSE on certain valuation metrics in the unlisted market, making the IPO a closely watched event for investors.
- The Power of Long-Term Investing: NSE's journey demonstrates that extraordinary wealth is often created by identifying high-quality businesses early and staying invested as they compound over time. Alongside substantial stock appreciation, long-term shareholders also benefited from corporate actions such as bonus issues, stock splits, and dividends, reinforcing the value of patience and conviction in fundamentally strong businesses.

Overall, the DRHP filing marks a defining moment in NSE's listing journey. Backed by dominant market share, robust financial performance, and a proven track record of value creation, NSE remains one of the most compelling opportunities in India's pre-IPO space.