Mumbai, Sept. 11 -- State Bank of India (SBI) will be the largest selling shareholder in the proposed initial public offering (IPO) of the National Stock Exchange of India Ltd (NSE), offering up to 1.60 crore equity shares, while Life Insurance Corporation of India (LIC), which holds a 10.72 per cent stake in NSE, has decided not to sell any shares through the offer for sale (OFS).

According to NSE's Red Herring Prospectus (RHP), the IPO will comprise an offer for sale of up to 12.64 crore equity shares of face value of Rs 1 each, with no fresh issue of shares by the company.

The price band for the IPO has been fixed at Rs 1,700 to Rs 1,785 per equity share. The IPO is scheduled to open for investors on September 16, 2026, while the bid...