NSE IPO: SEBI Grants No-Objection Certificate to National Stock Exchange

Earlier this month, SEBI Chairman Tuhin Kanta Pandey confirmed that the market regulator had accorded “in-principle” approval to the settlement application submitted by the National Stock Exchange (NSE) in the unfair market access matter. This development was widely viewed as a key milestone clearing the path for NSE’s public listing. In a significant breakthrough, SEBI has now issued a no-objection certificate (NOC) to India’s largest stock exchange, allowing it to move ahead with its long-awaited initial public offering (IPO), an official said on Friday. NSE’s listing plans had remained on hold for over a decade due to regulatory hurdles. The exchange had originally filed its draft red herring prospectus (DRHP) in 2016, proposing to raise nearly ₹10,000 crore through an offer for sale (OFS) by existing shareholders. However, regulatory approval was withheld at the time amid concerns related to corporate governance issues and the co-location controversy. Since then, NSE had made several representations to SEBI seeking clearance. Reacting to the development, NSE Chairman Ashish Chauhan said, “With SEBI’s approval, the company begins a new phase focused on long-term value creation.” Investment in securities market are subject to market risks. Read all the related documents carefully before investing.