Synopsis Radhakishan Damani’s 1.58% stake in NSE could see its value swing by nearly Rs 40 crore for every Rs 10 move in the exchange’s share price after listing.
His 3.91 crore shares are valued at around Rs 6,980 crore at the upper IPO price band of Rs 1,785.
By Kumar Gaurav, ETMarkets.com XPeers Life Insurance Corporation of India Share Price SBI Life Insurance Company Share Price HDFC Life Insurance Company Share Price ICICI Prudential Life Insurance Company Share Price Max Financial Services Share Price Last Updated: Sep 16, 2026, 07:03:00 PM IST 6 Follow us Veteran billionaire investor Radhakishan Shivkishan Damani could see the value of his National Stock Exchange (NSE) holding swing by nearly Rs 40 crore for every Rs 10 move in the exchange’s share price after listing.ADVERTISEMENT Damani holds 3.91 crore NSE shares, representing a 1.58% stake in the exchange, according to its Red Herring Prospectus (RHP).
At the upper end of the IPO price band of Rs 1,785, his holding is valued at around Rs 6,980 crore.NSE IPO Tracker: Catch all the highlights here This means every Rs 10 rise in NSE shares would add roughly Rs 39.1 crore to the value of Damani’s stake, while a similar decline would wipe out an equivalent amount.
Damani is among the 20 shareholders with at least a 1% stake in NSE, according to the RHP, ranking 13th on the list.
The largest shareholder is Life Insurance Corporation of India (LIC), which holds 26.53 crore shares, or 10.72% of NSE.
At the upper end of the IPO price band, LIC’s holding would be valued at around Rs 47,351 crore.Other major shareholders include Aranda Investments (Mauritius) Pte Ltd with a 4.54% stake, Stock Holding Corporation of India with 4.44%, SBI Capital Markets with 4.33%, Mahagony Limited with 3.73% and State Bank of India with 3.23%.ADVERTISEMENT Several other institutional investors and public-sector entities also feature among NSE’s large shareholders.
Stock exchange may seek Sebi’s nod after listingADVERTISEMENT ADVERTISEMENT Together, the 20 shareholders listed in the RHP hold 130.59 crore NSE shares, representing 52.76% of the exchange’s pre-offer equity capital.
At the upper end of the IPO price band, their combined holdings would be worth more than Rs 2.33 lakh crore.This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an Investment Adviser.
Gaurav and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication.
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