Mumbai: The National Stock Exchange (NSE) announced on Friday that it has received the final approval from the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO).
The IPO of NSE, the country’s largest stock exchange, had been stalled for over a decade due to co-location cases and other regulatory hurdles.
With SEBI’s nod now in place, the timing of the IPO launch largely depends on NSE’s own decisions.
Reports suggest that NSE plans to file its draft listing documents by the end of March and is currently engaging with investment bankers and legal firms to finalise the IPO paperwork.
Investor attention is now focused on the Draft Red Herring Prospectus (DRHP), which will provide detailed information about the IPO.
Srinivas Injety, Chairperson of NSE, expressed satisfaction over the SEBI approval, calling it a significant milestone in the exchange’s growth journey. He stated that the approval marks the beginning of a new chapter in value creation for all stakeholders.
He further added that this approval reinforces confidence in NSE’s role as a key pillar of the Indian economy and a guiding force in Indian capital markets.
NSE has been trying to get listed since 2016. However, regulatory investigations related to its co-location facility and governance issues delayed the process.
This month, NSE Managing Director and CEO Ashishkumar Chauhan visited Tirupati with his family to seek blessings at the Lord Venkateshwara temple. He prayed for the wellbeing of the exchange, its members, shareholders, and the nation’s progress.
Earlier, SEBI Chairman Tuhin Kanta Pandey had indicated that NSE’s IPO approval could come within the month.
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