New Delhi, June 20 -- As anticipation builds around NSE's upcoming Rs.30,000-crore public issue, Zerodha founder and CEO Nithin Kamath has highlighted what he believes is a rare feature in India's corporate sector: businesses that generated significant cash and return most of it to their shareholders.

Calling National Stock Exchange (NSE) a "cash generation and distribution machine", Kamath noted that the bourse earned more than Rs.10,300 crore in FY26 and distributed roughly Rs.8,660 crore in dividends, a payout ratio of 84%.

"This (the dividend payouts) will likely continue even after listing because NSE can't do much with the excess profits. SEBI doesn't allow exchanges to invest in other businesses, listed or private," the top execu...