NSE writes to SEBI seeking no objection certificate for its IPO

The new SEBI Chairman-Tuhin Kanta Pandey, after his first board meeting at SEBI said that they would look into issues around NSE’s IPO and look at how the process can be taken forward. The statement from the SEBI Chief was enough for the Stock Exchange (NSE) to initiate the process for its IPO, again.

As per sources, NSE has filed an application with SEBI to seek a No Objection Certificate (NOC)for its IPO. A NOC is a very important document before NSE can go ahead and file the DRHP for its IPO.

This is not the first time when NSE has filed a proposal seeking SEBI’s NOC for its IPO. NSE had earlier sought SEBI’s in 2019, twice in 2020 and in 2024.

In the previous occasion, SEBI had asked for certain requirements before it could think and consider the proposal to give NOC sought by NSE for its IPO.

SEBI had asked for salaries for its KMPs to be raised, and the Market Regulator had also asked NSE to dilute its holding in the clearing corporation, NSE Clearing, to less than a majority. Currently, NSE Clearing is a 100% subsidiary of NSE. SEBI had also asked NSE to resolve tech glitches which the Exchange faced and wait for a resolution of all legal cases around the co-location case.

Sources tell CNBC-TV18, that NSE in its fresh application filed with SEBI has also included point by point response on cause requirements which were raised by SEBI.