NSE IPO: Sebi chairman says all outstanding issues will be resolved soon

Sebi chief Tuhin Kanta Pandey on Thursday exuded confidence that all outstanding issues in the NSE (National Stock Exchange) IPO will be resolved soon.

The NSE's IPO proposal has been pending with the Securities and Exchange Board of India (Sebi) as the regulator has certain concerns.

Sebi's concerns include the compensation given to key management personnel, technology and the majority ownership in Clearing Corporation, among others.

"All the outstanding issues will be resolved and we will move forward...NSE and Sebi are talking, they are resolving the issues and I'm very hopeful, it will be cleared and will move forward," Pandey told reporters at an event organised by Assocham.

Asked when the issues would be resolved, he said ," Can't give a timeline but we should be soon doing it".

The bourse has restarted its listing process by applying for a No Objection Certificate (NOC) at the Securities and Exchange Board of India (Sebi).

It can be noted that NSE's IPO plans have been stuck for over eight years now. The bourse first filed its draft papers in 2016 to mobilise Rs 10,000 crore through an offer for sale by existing shareholders, who were looking to offload 22 per cent shares to the public.

However, approval was not granted by Sebi due to regulatory concerns pertaining to governance and the co-location matter. Since then, NSE has approached Sebi several times for clearance.

In March, Sebi announced the formation of an internal committee to look into NSE's IPO, and the markets regulator asked NSE to resolve all the issues.

NSE has a valuation of around Rs 4.7 lakh crore. The largest Indian equity bourse is already the 10th-most valuable private company in the country, as per the 2024 Burgundy Private Hurun India 500 list of listed as well as unlisted companies.