For years you could trade on the NSE, but you couldn't own a piece of it — until September 2026. In this episode, Kritika and Sanvi break down one of India's biggest public share sales: how existing stakeholders sold a 5% stake via an offer-for-sale, why NSE itself didn't receive a single rupee from the issue, and what a ₹4.42 lakh crore valuation really says about India's most dominant stock exchange. They also dig into NSE's slipping-but-still-massive market share in equity options, and what it means to buy into a cash-rich, debt-free machine without funding its future growth.