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Key Points

SEBI Chairman Tuhin Kanta Pandey has confirmed there are no remaining obstacles for the NSE IPO. NSE CEO Ashish Chauhan stated they are awaiting SEBI's NOC before proceeding with the draft prospectus. Pandey also warned against market manipulation, particularly in SME IPOs, vowing strict action. SEBI is currently investigating irregularities in derivative trades.

Key Points: SEBI Clears NSE IPO Path as Pandey Confirms No Obstacles

  • SEBI confirms no regulatory hurdles for NSE IPO
  • NSE awaits SEBI's NOC before filing DRHP
  • SEBI warns against market manipulation in SME IPOs
  • Investigation ongoing for derivative trade irregularities
2 min read

No more obstacles in case of NSE IPO: SEBI Chairman

SEBI Chairman Tuhin Kanta Pandey confirms no hurdles remain for NSE IPO, though timeline remains undisclosed.

"No obstacle will remain in the case of NSE IPO – SEBI Chairman Tuhin Kanta Pandey"

Mumbai, June 21

There is “no obstacle” remain for the National Stock Exchange (NSE) to proceed with its much-awaited IPO plans, SEBI Chairman Tuhin Kanta Pandey has said.

Speaking at the FE CFO Awards here, Pandey said there is no obstacle that “will remain in the case of NSE IPO”.

However, when asked whether the NSE IPO could see the light of the day ahead of Diwali this year, the markets regulator chief declined to comment on any timeline.

Earlier this month, Ashish Kumar Chauhan, Managing Director and CEO of NSE, said NSE is waiting for the no objection certificate (NOC) from the capital markets regulator and once it is received, the stock exchange would begin the process of filing its draft red herring prospectus (DRHP) for a much-awaited IPO.

Speaking to IANS, Ashish Chauhan said the exchange has sought a ‘No Objection Certificate’ (NOC) from the Securities and Exchange Board of India (SEBI). After getting the NOC, "we will prepare our draft red herring prospectus (DRHP) and then, we will send it back to the SEBI. After that, they will take their time to approve it", said Ashish Chauhan.

Last month, SEBI Chairman had said the pending issues surrounding the NSE IPO will be resolved soon, and the regulator will move forward with the process.

At the ‘FE CFO Awards’, SEBI Chairman said that market manipulation will not be tolerated and they will keep a close watch, as manipulation in SME initial public offerings (IPOs) is rising.

The capital markets regulator has, in the recent past, issued multiple orders related to SME IPOs, alleging fund siphoning, manipulation of issue subscriptions, incorrect disclosures, and other irregularities.

“We will continue to watch. On market manipulation, we will come down very hard going forward. I mean, we have come hard earlier also, but I think going forward, market manipulation will be one which we will not tolerate,” he said during an event here.

The issue of manipulation in derivative trades, especially in index options, has also come up and SEBI is investigating these issues.

- IANS

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Reader Comments

R
Rajesh K.
Finally some good news! NSE IPO has been pending for years. This will be a landmark moment for Indian capital markets. Hope SEBI ensures fair pricing - we don't want another Paytm-like fiasco. 🤞
P
Priya M.
SEBI chairman's warning about market manipulation is timely. Many retail investors like me have lost money in manipulated SME IPOs. Strong regulation is needed to protect small investors.
A
Amit S.
Why no timeline given? "No obstacles" but no dates either. Typical bureaucratic response. Investors need clarity, not vague statements. NSE should have gone public years ago like BSE.
S
Sunita R.
As someone who works in financial sector, I'm excited but cautious. NSE's governance issues in past were concerning. Hope SEBI has done proper due diligence before giving green light.
V
Vikram J.
IPO before Diwali would be perfect! Many retail investors get bonuses around festival season. NSE shares could be the ideal long-term investment for middle class Indians.
N
Neha P.
While NSE IPO is welcome, SEBI should focus equally on improving IPO process for smaller companies. Currently the system favors big players. Small businesses need fair access to capital markets too.

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