In a major step toward its IPO, NSE has submitted a record ₹1,388 crore settlement application to SEBI
to resolve the co-location and dark-fibre cases. This marks the largest-ever proposed settlement to the regulator, addressing allegations of unfair server and network access between 2015 and 2019.
Damani acquired his NSE stake privately in early 2020, purchasing shares from Norwest Venture Partners. With NSE shares trading over ₹2,300 apiece in the grey market, his holding of 3.91 crore shares is garnering attention from the Street ahead of the anticipated Q4FY26 listing.
Damani’s investment in NSE now surpasses his stakes in Trent (₹2,788 crore) and VST Industries (₹1,560 crore). Experts say NSE’s near-monopoly in the cash equity segment, robust financials and SEBI’s recent nod has made its IPO one of the most anticipated events of FY26.NSE recently reported results for the March quarter and financial year 2025, where it reported a 47% jump in its net profit to ₹12,188 crore compared to the previous financial year.
The exchange’s board also recommended a final dividend of ₹35 per equity share (3,500%), which included a special one-time payout of ₹11.46 per share, subject to shareholder approval.
While Damani’s over ₹1.90 lakh crore holding in DMart remains his flagship bet, NSE’s upcoming listing is expected to significantly boost his net worth.
While it is still unclear whether he will offload shares during the IPO, even a partial sale could bring a massive cash windfall, again showcasing Damani’s investment foresight and his burgeoning legacy as one of India’s most visionary investors.
(Edited by : Akanksha upadhyay)
