The company behind every trade in India is going public

Akshara· Host0:00

[upbeat music] In today's episode, we'll break down two important stories. First, we'll talk about India's biggest ever IPO, and then we'll talk about whether Indian farms get fertilizers on time. Welcome back to the Daily Brief by Zerodha, where we cut through the noise to help you understand what's actually happening in the most important stories from business and markets. I'm your host Akshara, and today is Friday, 19th June. Coming to the first story. So today, we're going to talk about a company that's critical to our business at Zerodha and to every other broker in India. It's because of them that we exist, as does the ecosystem we're part of. This is the National Stock Exchange, NSE. They filed their IPO papers this week, and from the size it's expected to reach, at nearly rupees 30,000 crore, it may well become the biggest IPO India has ever seen. And they're going for a pure offer for sale. That is, NSE itself is not raising any money. Its existing shareholders are cashing out, and their offer document is a goldmine. Even to us, as people who sit in the middle of Indian financial markets every single day, there were things we hadn't fully thought about before. Let's dive in. So when you buy a stock on Zerodha, you also pick an exchange to route your order to, NSE or BSE. And several entities come together to make your trade successful: the exchange, a clearing corporation, a depository. But the exchange lies at the heart of it, and it's the venue where the actual trade