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When Markets Grow, Exchanges Win: Why NSE Sits at the Centre of India’s Equity Boom
Picture this: India’s stock market cap exploding from ₹132 lakh crore in 2020 to ₹387 lakh crore by 2025, a 2.9x surge fueled by retail frenzy, SIPs hitting ₹25,000 crore monthly, and Nifty touching 26,277 in late 2024. At the epicentre? NSE, raking in FY25 revenue of ₹15,433 crore (33% YoY jump) and PAT ₹12,188 crore (47% up), while unlisted shares trade at around Rs. 1900. Missed the early ride? At Rits Capital, we’ve matched 300+ clients on NSE unlisted shares, turning ₹2-5 lakh lots into 2x+ gains amid IPO buzz.
NSE’s Revenue Rocket: Transaction Fees on Steroids NSE doesn’t build products, it powers the party. Equity turnover averaged ₹1.5 lakh crore daily in FY25, derivatives notional ₹500 lakh crore, yielding 94% equity market share and near100% in F&O. FY25 operating EBITDA hit ₹12,647 crore (74% margin, 28% YoY), with listing
fees from 200+ IPOs (₹1.5 lakh crore raised) adding ₹2,000+ crore. Compare to BSE: NSE’s ROE/ROCE at 37-45% dwarfs peers, dividend ₹35/share (71% payout). Every Nifty point, every demat account (18 crore+ now), funnels cash SEBI data shows NSE processed 80% of India’s 10 billion+ trades in 2025. Clients at Rits Capital love this: “Bought at ₹1,800 last year; now eyeing ₹3,000 on IPO whispers,” shares one after Q4 PAT ₹2,650 crore despite 18% revenue dip QoQ.
Market Boom Breakdown: 2020-2025 Data Dive India’s equity boom isn’t hype, total mcap 71.6x since 2001, smallcaps alone now bigger than 2020’s entire midcap bucket (₹44 lakh Cr vs ₹21 lakh Cr). Nifty 50 hit record 26,277 (Nov 2025) after 14-month lull, Sensex 85,978 peak, despite 2025’s reset (down 4% YTD on FII outflows).
NSE vs BSE at a glance:
NSE’s tech edge (fully automated since ’94) captured this: Largecaps 2.3x, midcaps
3.9x, smallcaps 4.9x growth. Rits Capital’s playbook? Layer NSE unlisted with listed proxies for 25% alpha. Read Also: NSE’s Nifty vs BSE’s Sensex: What’s the REAL Difference?
Unlisted NSE Shares: Your Pre-IPO Goldmine Trading at ₹2,425 (face ₹1, min lot ₹2.4 lakh for 100 shares), NSE’s unlisted mcap ₹1.85 lakh crore implies 3x rise in three years, analysts eye ₹1,900-₹2,700 in 2025, ₹3,500+ post-IPO. Why? Monopoly moat: No.1 global derivatives by volume, ₹19,823 crore total income FY25. Risks? Regulatory scrutiny (SEBI IPO delays), competition from MCX/IFSC, but 74% margins laugh it off. Taxes: STCG 20% (<24m hold), LTCG slab rates. Liquidity? 7-30 days via platforms we’ve exited 150 lots at 20% premiums. Parent-like stability: FY25 Q4 revenue ₹3,771 Cr, even post one-time gains fade.
2026 Projections: NSE’s Order Book Swells Defence-like order visibility: NSE eyes 15-20% CAGR through 2027 on fintech tie-ups, global listings, 25 crore demat milestone. Budget tailwinds ₹6 lakh Cr capex indirectly boosts listings. DCF at Rits (12% discount, 18% growth) values ₹3,200 fair 50% upside. 2026 watch: IPO filing Q1, F&O volumes double on retail surge. BSE chases with 17% growth forecasts, but NSE’s 94% share cements the throne. We’ve positioned clients ahead: “NSE unlisted funded my portfolio rebalance,” per a FY25 trade.
Risks and Rits Capital’s De-Risk Play 2025’s Nifty dip (-4%) hit volumes, but NSE’s data/listing arms buffered (17% total income growth). FII exits? Retail SIPs offset. Valuation? 55x PE reasonable vs BSE 91x. Unlisted traps: Verify ISIN INE00000NSE1, avoid P2P—SEBI OTC compliant only.
Rits Capital streamlines: KYC-to-demat in 48 hours, live pricing, 500+ unlisted deals (25% avg returns). Track Nifty’s rebound with us your equity boom ticket. Ready to grab NSE unlisted shares amid India’s mcap sprint to ₹500 lakh Cr? Ping Rits Capital for quotes, matching, and 2026 playbook.
