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Sebi launches broker settlement scheme; MSEI to raise ₹1,000 crore

Settlement window for NSEL-related violations to run from August 25 to February 25; MSEI to raise funds to support equity derivatives market entry

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Sebi's move follows industry requests to expand CRA services to include products like unlisted securities.

BS Reporter

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The market regulator on Wednesday proposed a settlement scheme for brokers involved in the National Spot Exchange (NSEL) matter. The scheme is for brokers against whom Sebi passed orders for facilitating trading on the NSEL platform and those who have filed appeals against the orders before the Securities Appellate Tribunal (SAT).
 
“This scheme is for settling only the violations relating to the securities laws without any bearing on the matters, which are being investigated by other law enforcement agencies, falling under their jurisdictions,” said Sebi.
 
The scheme excludes brokers who are defaulters of the stock exchange or whose names appear in the charge sheet filed by the Economic Offences Wing, Enforcement Directorate, or any other such agency. The settlement scheme will start from August 25, 2025 and end on February 25, 2026. The matter pertains to the payments crisis at NSEL in 2013.
 
 
Sebi considers permitting CRAs to rate wider securities
 
The Securities and Exchange Board of India (Sebi) on Wednesday proposed allowing credit rating agencies (CRAs) to rate securities falling under the purview of other financial regulators, even if unlisted. Currently, CRAs are restricted to rating only listed securities, those proposed for listing, or instruments specifically covered by Sebi’s guidelines. 
 
Sebi's move follows industry requests to expand CRA services to include products like unlisted securities. Under Sebi's proposal, CRAs would be permitted only for fee-based, non-fund-based activities. Also, any such activities must operate at arm's length through a separate, dedicated business unit.
 
MSEI board approves plan to raise ₹1,000 crore
 
Metropolitan Stock Exchange (MSEI) has approved the issuance of 5 billion equity shares to a clutch of investors. The equity bourse will allot these shares at ₹2 apiece, helping it raise ₹1,000 crore.
 
The proposed allottees in the private placement include Peak XV, Trust Investment Advisors, Pharma Ventures, and several other brokers and investment firms. Last year, the exchange raised ₹238 crore from entities linked to leading brokerages such as Zerodha and Groww.
 
The latest fundraise comes as MSEI readies its plan to enter the equity derivatives space.

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First Published: Jul 09 2025 | 5:44 PM IST

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