National Investment Company of Iran
National Investment Company of Iran Public Joint Stock Company (NICI) is a Tehran-based public investment holding company listed on the Tehran Stock Exchange under the symbol ونیکی. Founded in 1975, it manages listed and unlisted investments across industrial, consumer, energy and financial-service sectors, making it a relevant vehicle for assessing diversified Iranian corporate assets and portfolio governance.
Operations & footprint
Products and services
National Investment Company of Iran manages a large diversified portfolio of listed and unlisted companies and undertakes direct investment, securities investment, subsidiary management, portfolio restructuring, capital allocation, investment analysis, and participation in the establishment and development of industrial and service businesses. Its investment exposure includes mining and metals, cement, chemicals, pharmaceuticals, food and beverages, textiles, automotive activities, energy, petroleum products, non-metallic minerals, financial services, brokerage, and other industrial sectors.
Operations and assets
NICI’s core assets are equity interests in listed and unlisted portfolio companies, supported by subsidiary-management, brokerage and investment-management activities. Registered capital was IRR 35 trillion as of 1 August 2026.
Geographic footprint
Tehran-based, with investments in Iranian industrial and service businesses.
Ownership & group structure
Ownership
Major shareholders include Bank Tejarat (approximately 32%), the Pension Fund of Bank Employees (approximately 29%), the Central Bank of Iran (approximately 14.4%), Bank Melli Iran (approximately 4.2%) and Iranian Investment Company (approximately 1.2%).
Subsidiaries and group companies
National Investment Brokerage Company; National Investment Management Company; Niki Innovation Development Co.
Reported scale
Scale note: Operating revenue was IRR 45.13 trillion for the six-month financial period ended 20 June 2026.
Commercial and investment relevance
National Investment Company of Iran is relevant for investors assessing diversified listed holdings, portfolio-company governance, Iranian industrial equities, mining and metals, cement, pharmaceuticals, food, textiles, energy, and financial services. Its long operating history and diversified portfolio make it useful for understanding public-market asset allocation and holding-company valuation in Iran. Due diligence should verify the latest net asset value, portfolio concentration, ownership percentages, liquidity of listed holdings, valuation of unlisted subsidiaries, dividend income sustainability, subsidiary operating performance, related-party transactions, brokerage and asset-management relationships, capital increases, pension-fund or institutional shareholder influence, governance quality, contingent liabilities, sanctions exposure, and the extent to which reported earnings depend on asset sales rather than recurring dividends. The company is a potential institutional counterparty for portfolio companies, co-investors, brokers and service providers seeking access to Iranian corporate and capital-market networks. Its diversified holdings link it to multiple domestic sectors rather than a single operating industry.
Constraints, risk & compliance
Key risks and constraints
Performance is sensitive to the market value, liquidity and dividend generation of listed holdings, as well as the valuation and governance of unlisted portfolio companies. Its broad sector exposure also makes returns dependent on capital-allocation and portfolio-restructuring decisions.
Sanctions and compliance considerations
Foreign counterparties require enhanced sanctions screening because major shareholders include Bank Tejarat and the Central Bank of Iran, creating material Iran-related compliance exposure for cross-border dealings.
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Frequently asked questions
Direct answers to the questions most likely to arise when reviewing this profile.
What does National Investment Company of Iran do?
NICI is a public investment holding company that manages listed and unlisted investments, conducts direct and securities investments, oversees subsidiaries and allocates capital across industrial and service businesses.
Is NICI listed on the Tehran Stock Exchange?
Yes. National Investment Company of Iran has been listed on the Tehran Stock Exchange since 20 March 1976 and trades under the symbol ونیکی.
Which sectors are represented in NICI’s portfolio?
Its portfolio includes exposure to mining and metals, cement, chemicals, pharmaceuticals, food and beverages, textiles, automotive activities, energy, petroleum products, non-metallic minerals, financial services and brokerage.
Who are NICI’s major shareholders?
Major shareholders include Bank Tejarat, the Pension Fund of Bank Employees, the Central Bank of Iran, Bank Melli Iran and Iranian Investment Company.