NSE vs BSE: Which exchange leads on revenue, profit and growth ahead of NSE IPO? The National Stock Exchange of India (NSE) has taken a significant step toward its public offering by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The proposed IPO is structured as a complete offer-for-sale (OFS) of up to 14.89 crore equity shares, with existing shareholders selling their stakes. The shares will be listed on the Bombay Stock Exchange (BSE), mirroring BSE's own listing on NSE. Key selling shareholders include State Bank of India, Canada Pension Plan Investment Board, and several insurance and financial institutions. This move underscores NSE's strategic positioning as it prepares for its market debut. NSE and BSE collectively dominate India's organised stock and derivatives trading markets, operating as a duopoly. Despite a year-on-year decline in revenue, NSE's FY26 financials highlight its superior performance compared to BSE. NSE reported revenue of ₹16,601 crore, over 3.5 times higher than BSE's ₹4,833 crore, while its net profit (PAT) stood at ₹10,302 crore, more than four times BSE's ₹2,487 crore. This disparity reflects NSE's larger scale and market share, particularly in cash market trading, where its average daily volume reached ₹1.05 lakh crore compared to BSE's ₹7,950 crore. NSE also maintains a stronger position in the derivatives segment. The revenue streams for both exchanges are diversified, with transaction charges forming the largest portion. NSE earned ₹13,057 crore from transaction charges and ₹352 crore from listing services, while BSE generated ₹3,795 crore from transaction charges and ₹519 crore from listing services. These segments constitute the bulk of their total revenue.#bse #nse #state_bank_of_india #sebi #canada_pension_plan_investment_board
