- SEBI has internally approved the settlement in the NSE co-location case
- NSE filed its draft red herring prospectus for its IPO after nearly a decade
- NSE made a provision of Rs 1,391 crore for the proposed SEBI settlement
SEBI Chairperson Tuhin Kanta Pandey on Friday said the regulator has internally approved the settlement in the long-pending National Stock Exchange (NSE) co-location case and that the matter is expected to be resolved soon.
"Internally, the NSE settlement has been approved. The matter will be resolved soon," Pandey said.
The comments come days after NSE filed its draft red herring prospectus (DRHP) for its long-awaited initial public offering (IPO), bringing the exchange a step closer to listing after nearly a decade of regulatory hurdles.
In the DRHP, NSE said it has made a provision of Rs 1,391 crore towards the proposed settlement with SEBI in connection with the co-location matter. The exchange added that a revised settlement amount of Rs 1,491 crore has been proposed and is awaiting final regulatory approval.
The latest development suggests that one of the key legacy issues that had delayed the exchange's public listing could soon be resolved.
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NSE's listing journey has stretched for almost 10 years. The exchange first filed its draft IPO papers in 2016, but the process was put on hold after the co-location controversy triggered regulatory scrutiny.
Since then, the exchange has worked to resolve various legacy issues, including settlement applications related to the co-location case.
The IPO process gathered pace in 2024 after shareholders approved a 4:1 bonus issue. SEBI subsequently cleared the path for the listing in January 2026 and formally approved the IPO a month later.
With the DRHP now filed, NSE enters the next stage of the listing process, which includes regulatory review before the exchange announces its price band, subscription dates and eventual stock market debut.
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