NSE Denies Government Intervention in IPO Amid SEBI Review

The National Stock Exchange (NSE) has denied reports of seeking government intervention in its IPO. The Securities and Exchange Board of India (SEBI) is reviewing the IPO, addressing issues like compensation and technology. NSE's IPO plans face challenges due to pending regulatory cases and competitor BSE's 2017 listing.

The National Stock Exchange (NSE) has formally refuted media claims suggesting it requested government involvement regarding its initial public offering (IPO). According to a recent clarification, NSE confirmed that there has been no communication with the Government of India over the past 30 months concerning the IPO.

Currently, the NSE IPO is under assessment by the Securities and Exchange Board of India (SEBI), as both parties aim to address several critical concerns. SEBI's review primarily focuses on problematic areas such as substantial compensation granted to key managerial personnel, technological issues, and ownership structures within the clearing corporation.

In a significant development, SEBI has concluded its proceedings against the NSE in various lingering cases, notably the co-location case involving former officials, which had long obstructed the IPO. The NSE had initially filed for its IPO in late 2016 with an intent to raise Rs 10,000 crore, yet persistent regulatory hurdles have delayed the move, especially compared to BSE's earlier listing in 2017.

(With inputs from agencies.)