NSE IPO: SEBI Chief Tuhin Kanta Pandey says listing approval expected ‘soon’

The markets regulator, at its board meeting on Friday, said it will give its approval for the National Stock Exchange’s (NSE) initial public offering “soon.”

SEBI Chairman Tuhin Kanta Pandey said several pending issues around NSE have been resolved since the appointment of the new chairman, clearing the way for the exchange’s long-awaited listing.

The bourse is preparing for a long-awaited public listing that could take place within eight to nine months once it secures the necessary clearances from SEBI.

On Sept 10, NSE Managing Director and CEO Ashishkumar Chauhan said the exchange expects to list about eight to nine months after receiving a No Objection Certificate (NOC) from the regulator.

He said NSE is already widely held, with over 1.7 lakh shareholders, making it structurally different from most companies heading for an IPO.

Chauhan also emphasised NSE’s position as a key pillar of India’s financial system, calling it the country’s first and largest fintech and highlighting its role in enabling large-scale capital formation in an emerging economy.

The bourse first filed its draft papers in 2016 to mobilise ₹10,000 crore through an offer for sale by existing shareholders, who were looking to offload 22% shares to the public.

However, approval was not granted by SEBI due to regulatory concerns pertaining to governance and the co-location matter. Since then, NSE has approached SEBI several times for clearance.

NSE’s rising valuation

Interest in NSE’s IPO has intensified, particularly after the exchange’s valuation saw a dramatic surge. According to the 2024 Burgundy Private Hurun India 500 list, NSE’s valuation jumped 201% during the year to ₹4.7 lakh crore.

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