Big Boost for Indian Markets: NSE IPO Clears SEBI Hurdle as MSE Relaunches Ahead of Budget 2026
February 2026 is turning into a key month for India’s financial markets. Just before the Union Budget 2026, two major developments have uplifted market sentiment — the relaunch of the Metropolitan Stock Exchange (MSE) and long-awaited progress on the NSE IPO. The timing of these announcements, amid ongoing market volatility, has made the week leading up to Budget 2026 especially significant for investors.
Budget Week 2026 Brings Unexpected Market Momentum
Traditionally, India’s Union Budget is presented on 1 February every year, and 2026 will be no different. However, this year, markets are witnessing unusually high activity even before the budget speech. With investors anxiously awaiting policy signals, February 2026 has already delivered major structural news for Indian capital markets.
Metropolitan Stock Exchange to Relaunch on 1 February 2026
One of the biggest surprises is the relaunch of the Metropolitan Stock Exchange (MSE) on 1 February 2026, coinciding with Budget Day. According to market sources, MSE will resume operations alongside BSE and NSE, and markets will remain open on Sunday for this special occasion.
The relaunch of MSE is being seen as a positive development for competition and depth in India’s exchange ecosystem. It also symbolically aligns with broader reforms expected from Budget 2026, making it a notable coincidence for the financial sector.
Also Read: MSE Relaunch 2026: What Is Metropolitan Stock Exchange of India, Why SEBI Backed It, and What’s Next
NSE IPO Clears Major Regulatory Hurdle After Long Delay
Alongside the MSE relaunch, another major announcement has boosted sentiment — SEBI has finally granted its No Objection Certificate (NOC) for the NSE IPO, ending years of uncertainty.The National Stock Exchange (NSE) first applied for an IPO in 2016, but approval was delayed due to multiple regulatory and legal challenges. Key among these were co-location and governance-related cases, which prevented SEBI from issuing the required clearance.
NSE’s Market Strength Despite Regulatory Challenges
Despite these hurdles, NSE has remained one of the world’s largest stock exchanges by trading volume. Its strong financial position meant the exchange never required external funding support, which is why the upcoming IPO will be a pure Offer for Sale (OFS).This means existing shareholders will sell their shares, and no fresh equity will be issued. Market participants expect the IPO process to take around 7 to 8 months from now.
NSE Valuation and Unlisted Market Performance
The expected market capitalisation of NSE is estimated at around ₹5 lakh crore, making it one of the biggest IPOs in Indian financial history. NSE shares have been actively traded in the unlisted market, where prices have surged dramatically.In the past, NSE shares were available at around ₹1,000, but recent trades indicate prices close to ₹10,000 per share. Additionally, NSE has consistently offered dividends to investors, further strengthening its appeal.
Settlement With SEBI Clears the Path
In 2025, NSE filed a settlement plea to resolve its pending regulatory issues. As part of this settlement, the exchange reportedly agreed to pay around ₹1,400 crore, which has already been paid according to available data. This cleared the final regulatory roadblocks and enabled SEBI to issue the long-awaited NOC.
NSE IPO to Be a Landmark Market Event
The NSE IPO is expected to be one of the largest and most influential listings in India’s financial market history. For the exchange itself, it marks a historic milestone after years of delays. For investors, it opens the door to participate in the growth of one of the most dominant financial institutions in the country.
A Defining Moment for February 2026 Markets
With the MSE relaunch, NSE IPO approval, and the Union Budget 2026 all converging within the same week, February 2026 is turning into a defining moment for Indian markets. As volatility continues and expectations run high, these developments have already ensured that this budget season will be remembered as one of the most eventful in recent years.
