IFCI Surges on NSE IPO Optimism IFCI shares recorded a significant **26% rally** within a single week. This price action stems from intensifying market speculation that Sebi may grant approval for the National Stock Exchange (NSE) initial public offering as early as this month. The investment thesis centers on IFCI’s indirect exposure to the exchange. IFCI holds a substantial position in the Stock Holding Corporation of India (SHCIL), which maintains a **4.4% stake** in the NSE. Current market valuations place the value of that **4.4% stake** at approximately **Rs 23,000 crore**. This massive underlying asset value is the primary driver behind the sudden influx of liquidity into IFCI stock. The ripple effects of the IPO anticipation are visible across the broader exchange sector. Unlisted NSE shares have seen increased demand in the grey market, while shares of the listed rival, BSE, have also trended higher in sympathy.