NSE India Limited Unlisted Shares
About NSE
(i) The National Stock Exchange of India Ltd. (NSE) is the leading stock exchange in India and the second largest in the world by nos. of trades in equity shares from January to June 2018, according to the World Federation of Exchanges (WFE) report.
(ii) NSE launched electronic screen-based trading in 1994, derivatives trading (in the form of index futures) and internet trading in 2000, which were each the first of its kind in India.
(iii) NSE has a fully-integrated business model comprising our exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings. NSE also oversees compliance by trading and clearing members and listed companies with the rules and regulations of the exchange.
(iv) NSE is a pioneer in technology and ensures the reliability and performance of its systems through a culture of innovation and investment in technology. NSE believes that the scale and breadth of its products and services sustained leadership positions across multiple asset classes in India and globally enable it to be highly reactive to market demands and changes and deliver innovation in both trading and non-trading businesses to provide high-quality data and services to market participants and clients.
(v) NSE was incorporated in 1992. It was recognized as a stock exchange by SEBI in April 1993 and commenced operations in 1994 with the launch of the wholesale debt market, followed shortly after by the launch of the cash market segment.
History
1995: Setup wholly-owned subsidiary, NSE Clearing, which became the first clearing corporation to be established in India (according to the Oliver Wyman Report). NSE Clearing commenced clearing and settlement operations in the following year.
1998: Established NSE Indices, their subsidiary, as a joint venture with CRISIL Limited to operate an indices business. NSE Indices became a wholly-owned subsidiary in 2013 following the acquisition of CRISIL’s 49% stake.
1999: Established NSEIT, a wholly-owned subsidiary and a global technology firm that provides end-to-end technology solutions, including application services, infrastructure services, analytics as a service and IT-enabled services. In 2015 and 2016, respectively, NSEIT launched its Testing Center of Excellence and Integrated Security Response Center
2000: Incorporated DotEx, a wholly-owned subsidiary, and consolidated the data and info-vending business under DotEx.
2006: Incorporated NSE Infotech Ltd., a wholly-owned subsidiary for IT research and development.
2016: Consolidated the education business under NSE Academy, a wholly-owned subsidiary. Incorporated two new subsidiaries, NSE IFSC Limited and NSE IFSC Clearing Corporation Limited, in furtherance of NSE’s long-term business strategy to establish an international exchange in GIFT City.
Subsidiaries of NSE:
| Name of Entity | Place of Incorporation | Ownership % |
| NSE Clearing Limited (formerly known as National Securities Clearing Corporation Limited) |
India | 100 |
| NSE Investments Ltd (formerly known as NSE Strategic Investment Corporation Limited) |
India | 100 |
| NSEIT Limited | India | 100 |
| NSEIT (US) Inc. | United States of America | 100 |
| NSE Indices Ltd (formerly known as India Index Services & Products Limited) |
India | 100 |
| NSE Data & Analytics Limited (formerly known as DotEx International Limited) |
India | 100 |
| NSE Infotech Services Limited | India | 100 |
| NSE IFSC Limited | India | 100 |
| NSE IFSC Clearing Corporation Limited |
India | 100 |
| NSE Academy Limited | India | 100 |
| NSE Foundation (Section 8 Company) |
India | 100 |
| Aujas Networks Private Limited | India | 95.39 |
NSE India Limited Unlisted Shares Details:
| Total Available Shares: | Not Available |
| Face Value: | ₹ 1 Per Equity Share |
Shareholding Pattern:
| Name | No. of Shares | % of Total Shares | |
| Life Insurance Corporation of India | 6,19,13,500 | 12.51 | |
| State Bank of India | 2,18,59,160 | 4.42 | |
| GAGIL FDI Limited | 1,87,52,382 | 3.78 | |
| Aranda Investments (Mauritius) PTE. Ltd. | 2,47,50,000 | 5 | |
| Veracity Investments Limited, Mauritius | 2,47,50,000 | 5 | |
| Stock Holding Corporation of India Limited | 2,20,00,000 | 4.44 | |
| SBI Capital Markets Ltd. | 2,14,50,000 | 4.33 | |
| SAIF II SE Investments Mauritius Limited | 1,75,90,000 | 3.55 | |
| GS Strategic Investments Limited, Mauritius | 1,48,50,000 | 3 | |
| MS Strategic (Mauritius) Limited | 1,48,50,000 | 3 | |
| PI Opportunity Fund | 1,48,50,000 | 3 | |
| Tiger Global Five Holdings | 1,48,50,000 | 3 | |
| Acacia Banyan Partners | 1,23,75,000 | 2.5 | |
| IFCI Limited | 1,20,66,871 | 2.44 | |
Financials of NSE India Limited Unlisted Shares:
| Year | Revenue | EBITDA | OPM | PAT | NPM | Shares | F.V. | EPS | NW | RONW |
| 2015 | 1,918 | 1,372 | 72% | 779 | 41% | 4.50 | 10 | 173 | 4,673 | 17% |
| 2016 | 2,044 | 1,455 | 71% | 439 | 21% | 4.50 | 10 | 97 | 5,276 | 8% |
| 2017 | 2,318 | 1,668 | 72% | 1,032 | 45% | 49.50 | 1 | 20 | 5,939 | 17% |
| 2018 | 2,592 | 1,820 | 70% | 1,161 | 45% | 49.50 | 1 | 23 | 5,970 | 19% |
| 2019 | 3,028.75 | 2,161.44 | 71% | 1,389.87 | 46% | 49.50 | 1 | 28.08 | 6,383.44 | 22% |
| CAGR | 12% | 12% | 16% |
| Year | Revenue | EBITDA | OPM | PAT | NPM | Shares | F.V. | EPS | NW | RONW | FCF |
| 2015 | 2,275 | 1,710 | 75% | 1,026 | 45% | 4.50 | 10 | 228 | 5,726 | 18% | -1,557 |
| 2016 | 2,353 | 1,731 | 74% | 654 | 28% | 4.50 | 10 | 145 | 6,397 | 10% | 1,473 |
| 2017 | 2,680 | 1,915 | 71% | 1,218 | 45% | 49.50 | 1 | 24 | 7,209 | 17% | 5,902 |
| 2018 | 3,032 | 2,200 | 73% | 1,461 | 48% | 49.50 | 1 | 29 | 7,349 | 20% | -983 |
| 2019 | 3,514 | 2,441 | 69% | 1,708 | 49% | 49.50 | 1 | 34 | 7,788 | 22% | 1,485 |
| CAGR | 11% | 9% | 14% |
Comparison With Peers:
| Company Name | EPS | NPM | RONW | Shares (in Cr.) | M.cap | P/E |
| BSE LTD. | 37.75 | 37.76% | 6.78% | 5.18 | 2,563.91 | 14.25 |
| NSE LTD. | 34.51 | 48.60% | 21.93% | 49.50 | 54,450 | 31.87 |
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