The chairman of Securities and Exchange Board of India (SEBI), Tuhin Kanta Pandey, has confirmed that the much-anticipated IPO of the National Stock Exchange of India (NSE) is still on track and that SEBI will provide a formal No Objection Certificate (NOC) “at the appropriate time”.
During the CII Financing National Summit in Mumbai, Pandey noted that SEBI has begun its review of the Listing Obligations and Disclosure Requirements (LODR) regulations, which is part of the broader regulatory process impacting the bourse’s listing. He emphasised that the review will include “lots of consultations” and that the IPO NOC will be issued once all regulatory prerequisites are met.
On the topic of IPO valuations and exits, Pandey clarified that while some upcoming listings may involve investor exits, SEBI views both IPOs for fundraising and for exit as legitimate. “From our perspective, every variety of IPO should exist in the capital market, and all kinds of possibilities should remain open,” he said.
For market participants and investors, the key takeaway is that although there’s no fixed timeline yet for NSE’s IPO approval, a regulatory green-light appears imminent. It may be prudent for stakeholders to monitor:
- Updates on the LODR review and its implications for other high-profile listings
- Any formal communication from SEBI regarding the NOC for the NSE IPO
- How the NSE addresses remaining governance and disclosure concerns
In short, while the exact launch date remains undisclosed, SEBI’s assurance indicates that the long-pending NSE listing is closer than many realise.
