Dubai investor increases holding in National Stock Exchange ahead of IPO
10-September 2025
Prominent UAE-based investor and business leader Siddharth Balachandran has deepened his footprint in India’s capital markets by significantly increasing his stake in the National Stock Exchange of India Ltd (NSE), which is preparing for a much-anticipated initial public offering.
Balachandran—Executive Chairman and CEO of Buimerc Corporation Ltd, DIFC, and Chairman of the Indian Business & Professional Council Dubai—now holds 9.315 million shares in NSE, representing about 0.4% of the exchange. This positions him among the most notable individual shareholders of India’s largest stock exchange. Notably, he is also the single largest individual shareholder in BSE Ltd., with a 3.01% stake in Asia’s oldest bourse.
Together, NSE and BSE form the backbone of India’s equity markets, handling nearly all of the country’s trading activity. By holding meaningful stakes in both exchanges, Balachandran occupies a rare position among global investors, with influence across two of Asia’s most powerful financial institutions.
Founded in 1992, NSE has grown into the world’s largest derivatives exchange by contracts traded and the third-largest cash equities exchange by trades. As of May 2024, its listed companies had a combined market capitalisation of $5.4 trillion, making it the fourth-largest stock exchange globally. NSE’s near-monopoly—93% share in cash trading and 97% in equity derivatives—has cemented its dominance, with the Nifty 50 index serving as a global benchmark for India’s markets.
The exchange’s unlisted shares have surged ahead of its IPO, lifting its estimated valuation to nearly ₹6 trillion, already ranking it as the ninth most valuable company in India. Analysts view Balachandran’s increased stake as a strategically timed move to capture value from the impending listing.
His investment also highlights the deepening UAE-India investment corridor, with global funds showing rising interest in India’s financial markets. Balachandran has consistently underscored his strategy of backing transparent, high-growth institutions with long-term potential. Through his Dubai-based Buimerc Corporation, he has built diversified global interests across the US, EU, India, and the UAE.
Beyond business, Balachandran is widely recognised for his philanthropy and community leadership, actively promoting economic and professional linkages between India and the UAE.
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