The Securities and Exchange Board of India (Sebi) is close to approving the National Stock Exchange's (NSE) initial public offering (IPO). Sebi Chairman Tuhin Kanta Pandey made this announcement on Thursday. This marks a big step for India's largest stock exchange, which has waited a decade for its market debut due to various regulatory issues.
Key Details
NSE filed its draft red herring prospectus (DRHP) in June for an IPO estimated at about ₹30,000 crore. The IPO plan gained momentum after Sebi issued a No Objection Certificate (NOC) in January, clearing a major hurdle. NSE's board approved the IPO on February 6, 2026. The offering will include an offer for sale (OFS) where existing shareholders will sell 148.9 million shares, which is a 6% stake in the company.
Pandey noted that talks are ongoing about whether NSE shares will trade on its own platform. He said, "We have not thought about it yet (allowing NSE shares to trade under the permitted to trade category)." The PTT category allows trading of securities that are listed on another recognized exchange but not yet formally listed on NSE.
Background
The IPO has faced delays since 2016 due to regulatory concerns, especially related to the co-location controversy. The exchange aims to launch its IPO by mid-September, with a potential listing by September 25.
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Approval of the NSE IPO could boost investor sentiment in the Indian equity markets, especially for financial sector stocks. A successful launch may also influence trading volumes on the exchange. Investors will watch for the final approval date from Sebi as a key driver for market activity.
Based on reporting by: livemint.com, moneycontrol.com