IFCI shares jumped 7.95% to ₹91.36 per share, their fresh 52-week high, amid the prospects of value unlocking for the current shareholders of the company as NSE gears up to file DRHP for IPO.
Hopes of the stock market debut for the Indian stock market bourse National Stock Exchange (NSE) have fueled a sharp rally in shares of IFCI Limited so far this year, with the stock gaining another 8% in intraday deals on Monday, 15 June. This marks the second straight day of gains for IFCI as it rallied 20% last Friday amid reports that NSE could take a step further towards its listing journey and file the draft papers for its initial public offering (IPO) this week.
IFCI shares jumped 7.95% to ₹91.36 per share, their fresh 52-week high, amid the prospects of value unlocking for the current shareholders of the company. IFCI has an indirect stake in NSE through Stock Holding Corporation of India Limited (SHCIL).
Also Read | Vedanta Aluminium, Vedanta Power, other group stocks list after demerger
The PSU NBFC stock holds a 52% stake in SHCIL, which in turn, owns 4.4% of NSE. The company’s indirect stake positions it as a key beneficiary. Investor interest has heightened in the stock as NSE gears for its market debut.
IFCI shares have surged 69% so far in 2026 in anticipation of the public offer.
Virat Jagad Sr. Technical Research Analyst at Bonanza, said that IFCI has displayed a strong bullish breakout after forming a large rounding-shaped consolidation pattern over the past two years.
“The stock has surged towards the crucial resistance zone around 90, which coincides with its previous swing high, indicating a potential breakout from a long-term base formation. The rally is supported by a sharp increase in volumes and the stock trading above all key moving averages, with the 20, 50, 100 and 200-day EMAs aligned positively, reflecting a strong uptrend. RSI has moved above 70, indicating powerful momentum, although it also suggests the possibility of near-term consolidation due to overbought conditions,” Jagad added.
A decisive closing above 90 can confirm the breakout and trigger the next leg of the rally towards 105–115, followed by 130, he noted. “On the downside, 78–75 will act as immediate support, while a breach below this zone may lead to a deeper correction towards 66. Overall, the technical structure remains strongly positive and any short-term dip could provide a buying opportunity as long as key support levels are maintained,” the expert added.
According to a PTI report, the long-awaited IPO of NSE is set to move a step closer, with the country’s largest stock exchange expected to file its preliminary papers with Sebi this week, people aware of the matter said. This comes after NSE’s board approved the proposed IPO on February 6, following receipt of Sebi’s no-objection certificate (NOC).
The draft red herring prospectus (DRHP) is likely to be filed on June 15 or June 16, the report added.
The proposed issue is expected to be among the largest in India’s capital markets. NSE, which has around 1.8 lakh shareholders, is valued at over ₹5 lakh crore in the unlisted market, according to market participants.
Also Read | Want to participate in NSE IPO? Check eligibility, deadlines, and more
Life Insurance Corporation of India (LIC) is the single largest shareholder in NSE, holding a 10.72% stake. State Bank of India (SBI) and its subsidiary, SBI Capital Markets, together own around a 7.5% stake in the exchange.
Among foreign investors with significant holdings are Aranda Investments, a subsidiary of Temasek, and Canada Pension Plan Investment Board (CPPIB).
NSE had first filed draft offer documents in 2016 to raise around ₹10,000 crore through an offer for sale by existing shareholders. However, Sebi withheld approval amid concerns related to governance lapses and the co-location case.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
