SEBI Chairman optimistic about National Stock Exchange (NSE) IPO proceeding soon

Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey has stated that the Initial Public Offering (IPO) of the National Stock Exchange (NSE) is expected to "see the light of the day." This announcement has further fueled investor anticipation for the IPO of India's premier stock exchange, which ranks globally as the largest multi-asset class exchange and the second-largest equity exchange.

Investor interest in NSE has surged, with retail participation increasing significantly. NSE Managing Director and CEO Ashishkumar Chauhan recently mentioned that the exchange is awaiting a no-objection certificate (NOC) from SEBI and indicated a potential listing in the "next Samvat." However, a report by Motilal Oswal Private Wealth suggests a public application might be closer to March 2026. The timeline is contingent on the resolution of ongoing co-location and dark fibre cases.

The process, once SEBI issues its NOC, involves approximately 4-5 months for preparing the Draft Red Herring Prospectus (DRHP) and another 2-3 months for regulatory review. If all proceeds smoothly, the NSE could potentially list on the BSE by the fourth quarter of the current financial year (Q4 FY26).

Impact This IPO will inject significant liquidity into the market and provide a new, substantial investment avenue for investors. It could also draw more attention to the financial infrastructure sector and potentially influence market dynamics and trading participation. Rating: 8/10.

Difficult Terms: IPO (Initial Public Offering): The first time a company offers its shares to the public to raise capital. SEBI (Securities and Exchange Board of India): India's capital market regulator. NOC (No Objection Certificate): A formal approval from a regulatory body, indicating no objections to a proposed action. Samvat: Refers to the Hindu calendar year, often used to denote financial cycles in India. DRHP (Draft Red Herring Prospectus): A preliminary document filed with regulators before an IPO, containing company details and offering information. WFE (World Federation of Exchanges): An international body representing stock exchanges globally. Co-location: A service allowing trading firms to place their servers within an exchange's data centre for faster trade execution. Dark Fibre: Unused optical fibre infrastructure leased by financial firms for high-speed data communication. FY26 (Fiscal Year 2026): The Indian financial year running from April 1, 2025, to March 31, 2026.