The National Stock Exchange (NSE) has become a prized asset in the unlisted space. Here’s why investor interest is surging.
India’s unlisted equity market has been buzzing with renewed activity—and leading the pack is the National Stock Exchange (NSE). According to a recent report by The Economic Times, NSE shares have doubled investors’ money in the unlisted space over the past 12 months, making it one of the most sought-after pre-IPO opportunities.
At RURASH Financials, we’ve seen this surge firsthand. Let’s decode what’s driving this momentum, and what you should keep in mind before considering NSE as part of your unlisted portfolio.
1. Returns That Speak for Themselves
NSE’s unlisted shares, which were trading at around ₹3,000–₹3,200 per share in mid-2023, have surged to ₹6,000–₹6,200 by mid-2025, effectively delivering 90–100% returns in just one year.
This rally reflects not just investor sentiment but strong fundamentals and optimism surrounding NSE’s long-awaited IPO.
2. IPO Anticipation Builds Momentum
The anticipation of NSE’s public listing likely within the next fiscal year has fueled demand in the secondary unlisted space. A successful listing could unlock significant value, especially for early investors, positioning NSE as a high-conviction bet among pre-IPO assets.
3. Consistent Financial Performance
The underlying fundamentals remain robust. NSE continues to report strong profitability, healthy revenue growth, and operational efficiency, reinforcing investor confidence. Moreover, its monopoly-like market position in derivatives and leadership in equity trading volumes makes it a structurally strong play.
4. Regulatory & Corporate Governance Clarity
Over the years, NSE has worked towards improving transparency, resolving legacy compliance concerns, and strengthening corporate governance key factors that have helped improve market perception and valuation.
5. Institutional Interest Growing
Not just retail or HNI investors, but institutional buyers and family offices are actively seeking NSE unlisted shares as part of their private market allocations. This trend underscores the asset’s maturity and credibility in the private investment space.
RURASH Financials’ View: Invest with Caution and Clarity
While the momentum in NSE shares is undeniable, investors must approach unlisted investments with careful due diligence.
At RURASH, we assist investors with:
Verified access to NSE and other premium unlisted shares
Valuation insights and due diligence reports
End-to-end transaction support including documentation and custodial assistance
Liquidity management and exit strategies
We believe that pre-IPO investing is not just about chasing returns, but about investing early in quality businesses with structured advisory and professional guidance.
Final Word
The rise in NSE’s unlisted share price tells a compelling story of market confidence, IPO anticipation, and institutional-grade interest. If you’re considering investing in unlisted equities, NSE is a benchmark opportunity but it demands careful entry timing, access to verified sellers, and a trusted transaction partner.