Who will earn from NSE's estimated ₹30,000-crore IPO?

Since NSE's estimated ₹30,000-crore IPO is entirely an offer for sale of about 14.89 crore equity shares, all proceeds will go to its existing institutional shareholders, with NSE not raising any fresh capital. These include SBI, Bank of Baroda, MS Strategic (Mauritius), Canada Pension Plan Investment Board and Aranda Investments (Mauritius). Public-sector insurers will also sell their stake.