NSE IPO: No-Objection Certificate Expected Soon, Says SEBI Chairperson

The National Stock Exchange will soon get a no-objection certificate for its much-awaited initial public offering, Securities Exchange Board of India Chairperson Tuhin Kanta Pandey said on Friday.

This will likely come after all the formalities are complete, he said during the press conference after the SEBI board meeting. Additionally, he said it will come after the settlement-related proceedings have been completed.

He further added that now NSE has a new chairperson in place and that solves some of the issues. Once the settlement issue is resolved, all other obstacles highlighted by SEBI in a February letter to NSE will likely be dealt with.

The decision on approving the settlement applications of India's leading bourse, in the co-location and dark fibre cases is likely to be decided in the next meeting of the SEBI's High-Powered Advisory Committee, NDTV Profit reported in August, quoting sources. The next meeting is likely to take place in this month, and the agenda is likely to include the final settlement in cases involving the NSE.

Currently, the settlement proceedings are in their final stages, NDTV Profit learnt.

NSE had offered around Rs 1,400 crore to settle pending cases. Other issues that have been previously highlighted are to be dealt with post settlement, the people further mentioned.

One of the sources further mentioned that the exercise to file a draft red herring prospectus will only take place when a positive response is received from the markets regulator, as it is a vast process and has to be started from scratch.

The exchange is likely to file its draft IPO papers by December, subject to the nod it receives from the SEBI. The bourse is likely planning to launch its IPO either at the end of FY26 or at the very beginning of FY27, but it depends on the market conditions at the time, sources said.