Street signs: WhatsApp leaks test insider controls, NSE IPO buzz picks up

From WhatsApp leaks testing insider trading controls to Sebi's regulatory review push and revived hopes for an NSE IPO, key signals emerge from Dalal Street

WhatsApp leaks test insider controls 

While timely disclosures by listed entities are desirable, some have recently come too early, posing challenges for firms trying to track people with access to insider information. ICICI Lombard General Insurance disclosed on January 10 that an official had uploaded information related to its unaudited draft December-quarter results on a personal WhatsApp status. Although the status was removed within an hour, it triggered an internal inquiry to assess possible violations of insider trading norms. This was the second such instance within a week. Earlier, a key employee of Hatsun Agro shared draft quarterly figures on WhatsApp. The company also added all viewers of the post to its digital database used to monitor those with access to unpublished price-sensitive information.

 

Sebi panel to review regulatory impact 

The Securities and Exchange Board of India (Sebi) has constituted a five-member committee, chaired by CEA V Anantha Nageswaran, to assess regulations from the perspective of efficiency, compliance burden, impact ,and cost-benefit. The External Experts Advisory Committee will identify gaps, redundancies, unaddressed issues ,and emerging risks that may warrant a comprehensive review of Sebi’s regulatory framework.  Other members include former senior government and Sebi officials, as well as an expert from a market infrastructure institution. The committee’s terms of reference note that the review must consider impacts on systemic stability, regulated entities, customers and other stakeholders, as well as unintended consequences and the relevance of norms in current market conditions.

 

NSE IPO buzz picks up 

After a tepid phase in the unlisted market, shareholders of the National Stock Exchange (NSE) may be looking for a turnaround, with Sebi Chairman Tuhin Kanta Pandey indicating that the no-objection certificate for the exchange to file for an IPO could come within this month. After gaining momentum on listing hopes, NSE shares in the unlisted market have declined from a peak of about ₹2,400 in May 2025 to around ₹1,975 in January 2026. As of September, retail investors held over 12 per cent of NSE, with around 163,478 shareholders, keeping interest in the listing alive.