According to Pandey, SEBI’s internal committee will examine NSE’s responses to the concerns previously raised by the regulator.
On March 28, NSE filed an application with SEBI seeking a No Objection Certificate (NOC) for its
IPO.
The NOC is a crucial document required before NSE can proceed with filing the Draft Red Herring Prospectus (DRHP).
SEBI had earlier asked NSE to increase the salaries of its key managerial personnel (KMPs). The market regulator also directed NSE to dilute its stake in NSE Clearing — its wholly-owned clearing corporation — to below majority ownership.
Currently, NSE Clearing is a 100% subsidiary of NSE.
In addition, SEBI had instructed NSE to address the technical glitches faced by the exchange and to wait for the resolution of all legal cases related to the co-location matter before moving forward.
When asked about a possible timeline, SEBI Chairperson Pandey said that the intention is to take a decision on NSE’s IPO “as soon as possible.”
(Edited by : Anshul)
First Published: Apr 17, 2025 3:25 PM IST
