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NSE IPO: National Stock Exchange seeks SEBI's 'no-objection certificate' for public listing

Upstox
By Upstox News Desk

2 min read | Updated on August 28, 2024, 08:32 IST

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SUMMARY

NSE IPO: The stock exchange filed draft papers with the market regulator for its initial share sale in December 2016. The IPO was expected to be ₹10,000 crore.

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The NSE had earlier applied with SEBI to float its IPO, but approval was not given due to legal and regulatory issues.

NSE IPO: In its latest bid to go public, India's leading stock exchange, the National Stock Exchange (NSE), has applied for a 'no-objection certificate' (NOC) with the capital markets regulator, Securities and Exchange Board of India (SEBI) for its nod to launch an initial public offering (IPO).

In its annual general meeting (AGM) on Tuesday, the exchange informed shareholders about the development, people privy to the development told the news agency PTI.

The clarification comes after SEBI told the Delhi High Court earlier this month that NSE had yet to submit a fresh request for an NOC for the listing.

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The SEBI's statement was reportedly in response to a writ petition seeking to expedite NSE's IPO.

The NSE had earlier applied with SEBI to float its IPO, but approval was not given due to legal and regulatory issues. After SEBI's probe against the exchange and some of its former executives over the alleged governance lapses, its listing plans were on the backseat.

The stock exchange filed draft papers with the market regulator for its initial share sale in December 2016. The IPO was expected to be ₹10,000 crore.

The existing shareholders had proposed selling 22% shares to the public through an offer for sale (OFS).

Again, in 2020, Vikram Limaye, NSE's then-Managing Director (MD) and Chief Executive Officer (CEO) told PTI, "We have approached SEBI to seek its approval for the IPO, and after that, we will start the process of appointing merchant bankers, who will help the exchange file draft prospects for the IPO."

NSE's rival BSE came up with its public offer in 2017 and is currently listed on the NSE.

With PTI inputs
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