Mumbai: India's IPO boom has given a boost to the National Stock Exchange's listing business, which earned ₹352 crore from listing services in FY26, up 12% from ₹314 crore a year earlier, according to its draft IPO prospectus. The segment contributed 2.12% of NSE's operating revenue of ₹16,601 crore in FY26, compared with 1.83% in FY25 and 1.51% in FY24. The increase came despite a decline in IPOs to 219 from 242 the previous year, as larger public issues raised book-building fees. NSE earns listing revenue through initial listing fees, annual fees, processing charges and book-building fees. The exchange had 2,978 listed entities at the end FY26.
India's IPO boom boosts NSE's listing business, revenue rises 12% in FY26
India's stock market saw a strong performance in its listing services. The National Stock Exchange earned ₹352 crore in FY26, a significant rise from the previous year. This growth occurred even as the number of initial public offerings decreased. Larger companies going public contributed to this revenue increase.
TL;DRAI
NSE's listing revenue rose 12% to ₹352 crore in FY26 with 219 IPOs (down 9%), driven by larger deals. India's IPO market favors profitability; tech leaders planning exits must prioritize unit economics over top-line growth.
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