NSE IPO to launch this year? What SEBI chief said
What's the story
The much-anticipated initial public offering (IPO) of the National Stock Exchange (NSE) in India may soon get a nod from the market regulator.
Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), said that all the outstanding issues with this IPO are likely to be resolved soon.
Speaking at an event in Delhi, he said, "All I can say is that all the outstanding issues will be resolved."
Joint efforts
NSE collaborates with SEBI to address concerns
Pandey revealed that SEBI and NSE are working closely together to address the concerns surrounding the IPO.
"Can't give you the timeline, but I think we should soon be doing it," Pandey said. This collaboration aims to resolve the issues for one of India's most anticipated IPOs.
Pandey also said guidelines regarding expiry dates will be issued later this month after reviewing feedback from a consultation paper.
Government involvement
NSE seeks finance ministry's intervention in IPO approval
Earlier this month, NSE sought intervention from the finance ministry amid its prolonged standoff with SEBI over the IPO.
The request was made after SEBI failed to clear its latest application for a 'no objection certificate' (NOC) in March.
Despite previous similar requests in November 2019, twice in 2020, and again in August 2024, NSE has denied seeking intervention from the finance ministry.
Governance issues
NSE's governance concerns and transparency goals
SEBI had flagged governance shortfalls at NSE, including delays in appointing a chairman to its board.
NSE dismissed the concerns in its letter to the finance ministry and blamed SEBI for delaying the approval of a candidate it had recommended in 2022.
Despite these issues, NSE wants to launch the IPO not for price discovery but to enhance transparency and accountability as India's largest exchange with over one lakh shareholders.