NSE IPO: There is a big update regarding the IPO of National Stock Exchange (NSE). Securities and Exchange Board of India (SEBI) Chairman, Tuhin Kanta Pandey said on Saturday that the process of issuing No Objection Certificate (NOC) for the National Stock Exchange IPO is now in its final stages.
While talking to the media during a program in Chennai, he told that this approval can be given within this month. His statement has strengthened the hope in the market that the process of launching the IPO of NSE has now reached its final stage.
IPO moves ahead after long wait
According to him, after receiving the No Objection Certificate (NOC), it will take about four months to prepare the Draft Red Herring Prospectus (DRHP). After that, the process of scrutiny and questioning of these documents by SEBI may take about four more months.
Already large public shareholder base
The special thing about NSE is that the company already has a large public shareholder base. At present NSE has about 1.72 lakh shareholders and there is no promoter stake in it. This makes it a completely institutionally structured exchange.
NSE IPO stuck since 2016
NSE first filed its DRHP in 2016, but since then the IPO process has been continuously stuck. The exchange approached SEBI several times for a No Objection Certificate (NOC). Once in 2019, twice in 2020, and again in August 2024. However, the process continued to be delayed due to regulatory and legal issues related to matters such as co-location and dark fiber access.
Talks continue between SEBI and NSE
SEBI Chairman Tuhin Kant Pandey had earlier said in a Moneycontrol conversation in April 2025 that discussions are going on between NSE and SEBI on important issues like governance, technology, pending cases and clearing corporations. He had then said, “Hopefully a solution will be found on all these issues with a clear roadmap, after which the NSE IPO can go ahead.”
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