NSE edges closer to IPO nod after Sebi panel clears Rs 1,800 crore settlement proposal
Sebi’s expert panel approved NSE’s ₹1,800 crore settlement for colocation and dark fibre cases, clearing key hurdles and reviving its long-pending IPO.Summary
The National Stock Exchange’s long-delayed initial public offering has regained momentum after a Securities and Exchange Board of India (Sebi) expert committee approved a settlement proposal of about ₹1,800 crore to resolve the colocation and dark fibre cases that had blocked regulatory clearance. The four-member panel, chaired by former Calcutta High Court chief justice Jai Narayan Patel, endorsed NSE’s applications, and its recommendations will now move to Sebi’s whole-time members for final approval. Delays since NSE’s first IPO filing in October 2016 stemmed from governance, technology and regulatory concerns, but recent steps—including an internal Sebi review under Chair Tuhin Kanta Pandey and revised settlement offers filed last June—have built consensus for resolution. Market participants and legal experts view the settlement as a pragmatic step that reduces uncertainty, accelerates enforcement and restores regulatory certainty, paving the way for a smoother IPO process.
(Source：The Economic Times)