NSE IPO: The NSE CEO has said that his pilgrimage to Tirupati was planned a long time ago. During this time, the approval given by SEBI to NSE IPO really seems like a divine sign from God. This IPO was long awaited due to years of delays and regulatory hurdles. This initial public offering now seems to be reaching its final stage.
NSE Managing Director and Chief Executive Officer Ashish Kumar Chauhan This new confidence has arisen after sharing a personal post on X on January 11. Linking his family’s visit to Tirupati to positive developments related to the IPO, he said they offered prayers at the Tirumala temple and sought blessings for the exchange, its employees, members, listed companies and investors.
Describing its timing as “brilliant”, Chauhan said the pilgrimage was planned in advance, but the timing of the signal from the regulator regarding IPO approval this month coincided with his arrival in Tirupati.
Chouhan wrote, “The pilgrimage was planned some time ago. The signal from the Honorable SEBI Chairman to approve the NSE IPO this month came just when we reached Tirupati yesterday evening. It truly felt like a divine sign from Almighty God.”
SEBI Chairman Tuhin Kanta Pandey also confirmed the approval of IPO.
Soon after, Securities and Exchange Board of India Chairman Tuhin Kanta Pandey confirmed that the regulator is in the “very advanced stage” of issuing a no-objection certificate for NSE’s listing. Although he did not give any concrete date, Pandey said that the process could be completed by the end of the month, raising hopes that the long wait for the NSE IPO may finally be over.
NSE’s IPO journey was very difficult
NSE’s IPO journey has not been easy at all. The exchange first filed its draft prospectus in December 2016, but the plan stalled following governance concerns and a co-location issue that alleged some brokers got exclusive access to trading systems. These issues led to repeated delays and multiple attempts to get regulatory approval for the IPO over the years.
The IPO issue escalated again after NSE applied for re-approval in 2024 and settled the trading access point and network connectivity case by paying a penalty of Rs 643 crore. Since then, the exchange has taken a number of governance reform steps, including changes in senior leadership, restructuring of the board and tightening compliance systems.
Andhra Pradesh IT Minister Nara Lokesh has also given his reaction on the Tirupati visit. He welcomed Chouhan and said the IPO could be “historic”. Most of the old concerns have now been addressed, so the long wait for NSE to go public is finally coming to an end.