NSE Unlisted Share Price

1992 saw the incorporation of NSE. SEBI registered it as a stock exchange in April 1993. The wholesale debt market and the cash market segment were introduced shortly after, marking the beginning of the exchange's activities.

1993: India recognises NSE as an exchange

1994: Screen based trading introduced by NSE

2000: The NSE introduced index futures, opening up trade in derivatives in India.

2002: The NSE launched ETFs in India.

2008: The NSE introduced currency futures to India.

2011: Started trading on the FTSE Index index futures and options contracts.

2016: Promoted NSE IFSC, the international stock exchange in India’s first IFSC SEZ at gift city Gandhinagar

2021: The number of NSE registered investors exceeds 5 crore individual investors.

Landscape of exchanges in India

Over the previous 20 years, NSE's market share in cash equities has increased steadily, rising from 63% in FY02 to 81% in FY12 and then to 92% in FY22. Due to an increase in algorithmic (algo) trading with the introduction of co-location facilities in 2009, the company's market share experienced a dramatic surge in the following years.

Revenue Model

Unlike global exchanges, NSE have high dependency on transaction charges: while BSE’s dependence is low due to poor market share. Learn more about NSE business model here.

Transaction Charges

• Charges according to turnover in different categories
• Connected to the volume of market activity, family investments, and savings

Treasury income on clearing and settlement funds

• Income from clearing corporation
• Interoperability related income
• Interest income from SGF gets added to the SGF account
• Linked to interest rates and to an extent market activity since that would lead to more margin being deposited by members

Tech and information solutions

• Colocation, Network, Platform and terminal charges 
• primarily consists of charges recovered from members for network connectivity

Services to corporates

• Listing fees
• Book building fees
• Mostly derived from listing income that is not impacted by market activity
• Book Building is linked to primary fund raising

Data dissemination fees

• Live Data feeds to third party aggregators
• Historical data for back testing
• Impacted primarily due to level of subscriptions and revision in pricing policies

Income from Investments and deposits

• Income from own cash (not clients money)
• Linked to investment yields

Other Income

• Recurring in Nature
• Mostly derived from rent and training institution, etc

Low participation in capital markets

An increase in corporate activity is anticipated in the market.

NSE experiencing strong client growth

Demat account ownership has surged in India, growing fivefold from 2.2 crore in FY14 to a staggering 11.3 crore currently. Interestingly, while demat accounts have boomed, NSE's active user base has witnessed an even sharper rise, nearly multiplying by 9 times, from 40 lakh in FY14 to 3.4 crore today.