NSE IPO: Exchange flags concentration risk as top 10 brokers control nearly half of revenue (opens original article in a new tab)

The National Stock Exchange (NSE) highlighted revenue concentration risk, with top 10 brokers accounting for nearly half of its revenue, and filed draft papers for an IPO that could become India's largest-ever public offering.

• NSE flagged revenue concentration as a key risk, with top 10 brokers controlling 44.48-46.78% of revenue in recent fiscal years
• NSE warned that disruption or loss of these top trading members could materially affect financial performance and operations
• NSE IPO could become India's largest-ever public offering, valued at over ₹5 trillion