NSE IPO Update: From Radhakishan Damani to Dolly Khanna, the fortunes of these giants will shine as soon as the IPO comes.

By Samira Vishwas On Jun 18, 2026

The long wait of investors for the IPO of the most awaited ‘National Stock Exchange’ (NSE) of the Indian stock market is on the verge of ending. The exchange has filed the draft red herring prospectus (DRHP) for its public issue. This IPO will be completely in ‘Offer for Sale’ (OFS) mode, which means that promoters and veteran investors already invested in NSE will make huge profits by selling their stake. As soon as this IPO is listed, it is certain that there will be a huge increase in the wealth of big players like Radhakishan Damani.

NSE becomes ‘gold mine’ for investors

NSE’s shareholder structure includes India’s most successful investors and large industrialists. If we look at the estimated IPO price of Rs 2,000 per share, the math on the wealth of existing shareholders is astonishing:

Radhakishan Damani (Dmart Promoter): The value of his 1.58% stake in the exchange is estimated at around Rs 7,817 crore. This makes him one of the biggest individual beneficiaries of NSE.
Sunil Kant Munjal (Hero Group): He holds 1.02 crore shares (0.41% stake) of NSE, valued at around Rs 2,040 crore.
S. Gopalakrishnan (Infosys Co-Founder): He holds 0.38% stake, the value of which reaches Rs 1,886 crore.
Ignatius Neville Noronha (Dmart CEO): He holds 0.12% stake (about Rs 600 crore).
Dolly Khanna (Famous Investor): Veteran investor Dolly Khanna holds 15.17 lakh shares, whose value is around Rs 303 crore.
Other Investors: Siddharth Balachandran’s stake is valued at Rs 1,863 crore and Vanaja Sundar Iyer’s shares are valued at Rs 880 crore.

IPO structure and impact on the market

NSE’s IPO is completely OFS based, which means the exchange will not get funds directly from the market, but existing shareholders will get the opportunity to encash their capital. Although the company has not disclosed at what initial price these investors bought these shares, but according to the current market valuation, their profits are going to be unprecedented. The listing of NSE in the stock market is being considered a milestone in the history of the Indian financial market.

What are the signs for investors

Market analysts believe that NSE listing will increase transparency and provide investors an opportunity to invest in an asset class that is the main pillar of the Indian economy. However, retail investors will still have to wait for the price band and allotment process of the IPO. But it is clear that for the veterans who had placed bets in NSE long ago, this is going to be a ‘bumper earning’ opportunity.