The Economic Times

$46 billion IPO: NSE is the worlds most expensive stock exchange. Can it also become the most valuable?

NSEs Rs 22,569-crore IPO has opened for subscription, valuing Indias largest stock exchange at nearly $46 billion at the upper price band. At 42.9 times FY26 earnings, NSE commands a higher valuation multiple than most major global exchanges, including Nasdaq, CME Group, ICE, HKEX and LSEG. Analysts attribute the premium to NSEs profitability, market dominance and Indias long-term capital market opportunity.