NSE formally approves IPO in first step towards its long-delayed public markets debut
The National Stock Exchange Ltd (NSE) of India has officially approved its initial public offering (IPO), paving the way for the country’s largest stock exchange to list on stock exchanges after a long delay.
The offer would be subject to the sale of shares by existing shareholders, the company said in a regulatory filing on Friday. NSE’s proposed IPO will carry face value of shares ₹1 each, reported to the stock exchange.
Chief executive officer Ashishkumar Chauhan told reporters earlier this month that the company could see a 4-4.5% stake sale, which could take up to eight months.
The exchange also approved a formation. The IPO committee will oversee and execute the listing process. Such a panel is mandatory for companies that do not have promoters and want to go public.
The committee will be chaired by Tablesh Pandey, former managing director of Life Insurance Corp, who currently serves as a non-independent director on the exchange’s board. Pandey, who retired as managing director of LIC with effect from May 31, 2025, is also the director of ITC Hotels Ltd.
India’s largest life insurer is the single largest shareholder with a 10.7% stake as of end-December.
Other members of the committee include NSE’s newly appointed chairman Srinivas Injeti, public interest directors Mamata Biswal, Abhilasha Kumari and G Sivakumar and CEO Chauhan.
NSE recently received a no-objection certificate from the market regulator to proceed with its IPO. Obstacles encountered in public offering dark fiber The lawsuit focuses on allegations that some high-frequency traders were given privileged access to the exchange’s colocation servers between 2010 and 2014. Mint It was previously reported. The use of faster private communication lines allegedly allowed these traders to execute orders before others. In April 2019, Sebi ordered liquidation of the exchange ₹62.58 crore of alleged illegal profits were made and some senior officials were banned from holding market-related positions.
In 2022, Sebi also imposed a tax. ₹The stock exchange was fined Rs 7 crore, but the fine was later quashed by the Securities Appellate Tribunal (SAT). The regulator challenged the court decision in the High Court in September 2023 and again in February 2024.
Last month, Sebi chief Tuhin Kanta Pandey said at an event that Sebi had given “in principle” approval to NSE’s settlement application in the unfair market access case, PTI reported.
On Friday, the exchange also approved the establishment of a new platform. coal exchange subsidiary. He will retain 60 percent and the remaining 40 percent can be distributed among other shareholders.
NSE said the subsidiary was set up with the aim of bringing “transparency, efficiency and standardized price discovery to the Indian coal market, which currently operates through fragmented and largely opaque channels”.
NSE will invest ₹100 crore in coal exchange as minimum capital to maintain regulatory compliance.
The profit of the stock market increased by 15% respectively ₹2,409 crore in the December quarter, while its revenue from operations increased by 7% ₹3,925 crore.
NSE’s operating income or earnings before interest, tax, depreciation and amortization (EBIT) has almost doubled ₹2,851 crore, while its margin increased to 73% from 40% in the September quarter.
Margin improved as other expenses decreased ₹542 crore ₹1,811 crore due to one-time provision in the previous quarter.
