NSE Gains Momentum: A Resilient Path to Public Listing

The National Stock Exchange (NSE) is gearing up for a public listing, expected 8-9 months after approval from Sebi. NSE had filed for clearance in June 2025, and upon receiving an NOC, will draft its prospectus. The IPO has faced delays due to governance issues since 2016.

The National Stock Exchange (NSE) is poised to make its long-awaited debut in the public market, with a listing anticipated 8-9 months after obtaining approval from the market regulator, Sebi.

NSE filed for settlement with Sebi in June 2025, and following the acquisition of the No-Objection Certificate, it will require several months to finalize its draft red herring prospectus. This will then be followed by Sebi's review, a process projected to take an additional 4-5 months, revealed Ashishkumar Chauhan, NSE's Managing Director and CEO, at an event.

The journey has been fraught with obstacles since NSE first filed its draft papers in 2016, aiming to raise Rs 10,000 crore through its initial public offering. Regulatory concerns, particularly regarding governance and co-location issues, stalled the process. Despite these setbacks, discussions are underway to advance and resolve outstanding matters, seeking input from market participants to guide future framework changes.