NSE Aims for IPO Amid Hopes of SEBI Clearance

NSE's long-awaited IPO proceeds as SEBI indicates potential clearing of NOC this month. However, several months are needed for formalities. Challenges like governance issues and trading controversies delayed the process. NSE aims to file DRHP soon, eyeing full public listing resolved by regulatory complexities.

Mumbai, Maharashtra [India] - In a significant development for the National Stock Exchange (NSE), Managing Director and CEO Ashish Chauhan announced that the Securities and Exchange Board of India (SEBI) has tentatively approved their Initial Public Offering (IPO). However, this approval is rooted in expectation as the formal No Objection Certificate (NOC) remains pending.

The possibility of SEBI's rapid approval was mentioned by SEBI Chairman Tuhin Kanta Pandey, hinting at issuance within the month. This raises hopes for a swift move toward the IPO, especially after the markets regulator allegedly resolved a major obstacle: the unfair market access settlement application.

Despite these optimistic developments, Chauhan emphasized the procedural timeline, noting it will take three to four months to draft the Red Herring Prospectus (DRHP), followed by an additional two to four months for SEBI's review post-NOC issuance. This elongated timeline stems from past governance concerns and algorithmic trading platform controversies delaying the process since the DRHP's initial 2016 filing.