The SEBI chief said regarding NSE IPO Expected date for, chief said discussion with exchanges are on to resolve key issues
The National Stock Exchange’s long-pending IPO is under regulatory scrutiny, with SEBI and NSE actively discussing unresolved governance and structural issues.
Deadline of NOC?
Despite the filing of the no-objection certificate, the deadline for listing remains uncertain.
National stock exchange NSE’s long-awaited initial public offering IPO is under regulatory review, with discussions going on between the exchange and Sebi to resolve some issues, market regulator chief Tuhin Kanta Pandey said.
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SEBI’s concerns include compensation of key management personnel, technology and majority ownership in clearing corporations.
The stock market has resumed its listing process by applying for an NOC with the Securities and Exchange Board of India SEBI.
While the No Objection Certificate NOC has been filed, the timeline for the IPO remains uncertain as both parties are working to resolve key issues – some of which are fundamental in nature, including corporate governance.
Pandey said the NSE intends to take a decision on the IPO “as soon as possible”.
What IS Issues?
Pandey also told PTI, “All I can say at this point is that there are some issues…which are being discussed between NSE and SEBI. And we will try to resolve these issues with the intention of moving forward.”
It is worth noting that NSE’s IPO plans have been stalled for the past eight years. The exchange had first filed its draft papers in 2016 to raise ₹10,000 crore through an offer for sale by existing shareholders, who wanted to sell 22 percent, stake to the public.
In March, SEBI announced the formation of an internal committee to consider the NSE’s IPO, and the market regulator asked the NSE to resolve all issues.
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