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NSE IPO Big Update: National Stock Exchange (NSE) has once again knocked the door of Securities and Exchange Board of India (SEBI) for IPO. According to Moneycontrol, NSE has once again written a letter to SEBI seeking a No Objection Certificate (NOC) so that it can proceed with its IPO. This letter has been sent to VS Sundaresan, Executive Director of SEBI's Market Regulation Department. NSE filed the Draft Red Herring Prospectus (DRHP) for its IPO in December 2016.
NSE had written a letter to SEBI earlier as well
Let us tell you that this is not the first time that NSE, the country's largest exchange in terms of market share, has written a letter to SEBI for NOC. The exchange had written a similar letter to SEBI in November 2019, twice in 2020 and then in August 2024.
On February 28 last month, SEBI had responded to NSE's letter seeking NOC. In this, concerns were raised about issues such as technology, key management personnel, ownership of clearing corporation and ongoing cases related to colocation matter. NSE has now made a fresh appeal and responded to the issues raised by SEBI. What did SEBI say One of the biggest points raised by SEBI was related to the exchange's majority holding in its clearing corporation, NSE Clearing Limited (NCL). According to SEBI, clearing corporations should be considered independent of the exchanges, especially when interoperability is allowed between the exchanges. NSE's response NSE has said that its stake in NCL is in accordance with the existing regulatory framework and there are already two listed exchanges, including BSE and MCX.
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