India, Sept. 21 -- A majority of the existing shareholders of the National Stock Exchange of India (NSE) have retained a significant portion of their holdings even after tendering shares in the offer-for-sale (OFS) component of the exchange's Rs 22,569-crore initial public offering (IPO).

The selling shareholders largely comprised institutional investors, who collectively held a 36.82 per cent stake in NSE before the IPO and tendered shares representing a 5.11 per cent stake in the exchange, according to an analysis of data.

Of the 20 institutional shareholders that participated in the OFS, nine were foreign institutional investors, which collectively held a 15.96 per cent stake before the IPO, it added.

The remaining 11 were domestic ...