Shares of The New India Assurance Company (NIACL) and IFCI surged over 18 per cent and 12 per cent on the NSE on Friday, hitting a fresh intraday highs of ₹234.39 and ₹107.50 as investors rushed to buy the stocks on expectations of an imminent IPO approval for the National Stock Exchange of India.
The rally was driven by anticipation that the long-awaited NSE IPO may soon receive clearance from the Securities and Exchange Board of India. New India Assurance holds a 1.42 per cent direct stake in NSE, according to the exchange’s Draft Red Herring Prospectus, making it a direct beneficiary of any value unlocked by the listing. Stock Holding Corporation has 4.4 per cent stake in NSE while IFCI is a promoter of SHCIL.
The IPO was eventually cleared by market regulator on SEBI, that was revealed post market hours.
NSE had filed its draft document with SEBI in June for an offer for sale of up to 148.9 million equity shares, representing nearly 6 per cent of its paid-up capital, with no fresh issue component.
NSE is seeking a valuation of as much as ₹5.26 lakh crore in the planned offering, with the IPO expected to launch in the second half of September, according to reports.
Trading volume on NIACL was exceptionally heavy at 669.29 lakh shares, well above its recent average, with a traded value of nearly ₹1,493 crore. The stock on Friday closed at ₹229.91.
For the full year ended March 2026, the company’s net profit rose 36 per cent to ₹1,412 crore, while sales grew nearly 9 per cent to ₹38,672 crore. The stock’s year-to-date return now stands at 48.53 per cent, far outpacing the broader NIFTY 500.
IFCI closed at ₹101.38, up 5.70 per cent over the previous day with trading volumes jumping over 40.73 crore and the stock almost doubled YTD.