Mumbai, July 13 (IANS). The salary of Ashish Kumar Chauhan, Managing Director (MD) and Chief Executive Officer (CEO) of the country’s largest stock exchange National Stock Exchange (NSE), has increased by about 41 percent in the last two financial years to Rs 15.88 crore in the financial year 2025-26. This information has been revealed in the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI) ahead of the proposed initial public offering (IPO) by NSE.
According to DRHP, Ashish Chauhan received a remuneration of Rs 15.88 crore (Rs 158.88 million) in FY 2026, while it was Rs 13.99 crore (Rs 139.90 million) in FY 2025 and Rs 11.26 crore (Rs 112.65 million) in FY 2024.
The document also states that there has been an increase in the sitting fees paid to directors for attending meetings of the board and various committees. Public Interest Director Sunderrajarao Sudarshan received a sitting fee of Rs 42.5 lakh in FY 2026, which is 22 percent more than Rs 34.8 lakh in FY 2024.
At the same time, the sitting fee received by non-independent director Vineet Nair almost doubled to Rs 20.8 lakh in FY 2026, whereas it was Rs 10.5 lakh in FY 2024.
This disclosure has come at a time when the country’s largest stock exchange is preparing to take forward the process of its long-awaited IPO after getting regulatory approval.
The DRHP also clarifies that the remuneration announced for FY 2026 does not include contingent or deferred payments that will be paid in the coming years.
According to the document, NSE’s core operating performance during FY26 witnessed subdued trading activity across key market segments.
NSE’s operating revenue (revenue from operations) declined by more than 3 percent to Rs 16,601.3 crore in FY 2026, while it was Rs 17,140.67 crore in FY 2025.
Transaction charges, the biggest source of income for the exchange, also declined by 4 percent to Rs 13,057.01 crore, from Rs 13,635.76 crore in the last financial year.
Similarly, income from clearing and settlement services also recorded a significant decline during the financial year.
According to the filing, both the cash and derivatives markets witnessed a reduction in trading activity. Average daily trading volume (ADTV) in the cash market declined by 6.59 per cent to Rs 1,05,516.66 crore in FY26, while ADTV of equity futures fell by more than 14 per cent year-on-year.
Additionally, equity options trading, measured by premium value, also declined.
In its risk factors, NSE has cautioned that if there is a sustained decline in trading volumes or transaction values for a prolonged period, it could impact demand for its products and services. It may also impact the company’s business, financial position, future growth prospects and cash flow.
–IANS
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