India’s market regulator is expected to give the National Stock Exchange (NSE) the green light for its long‑awaited IPO, clearing a major legal hurdle.
SEBI’s no‑objection certificate is coming
SEBI chairman Tuhin Kanta Pandey said the regulator will likely issue the no‑objection certificate (NOC) before the end of the month, allowing NSE to move ahead with its prospectus.
Why the IPO was delayed
The listing was stalled after the “dark fibre” case, where high‑frequency traders were accused of getting faster access to NSE’s co‑location servers between 2010‑2014. SEBI ordered NSE to return about ₹62.58 crore and barred some senior staff.
What the NSE is worth
- Unlisted price: roughly ₹2,045 per share
- Market value: about ₹5.06 trillion (almost five times the size of BSE)
- Dominance: 92.7% share in equity cash trades and 74.3% in equity options
Other regulator updates
T+0 settlement plans
SEBI is testing same‑day (T+0) settlement for a limited set of stocks, but progress has been slow. The regulator plans to roll it out to the top 500 stocks from Jan 31 2025.
Performance‑linked mutual fund fees
SEBI will soon allow funds to charge fees based on performance, aiming for more transparent costs.
Bond market deepening
Plans are under way to introduce bond derivatives and promote municipal bonds, making the corporate bond market more accessible.
KYC simplification
The regulator wants to cut down repeat documentation and streamline re‑KYC, so KYC agencies keep only the latest records.
AI‑driven market surveillance
SEBI’s “Sudarshan” system uses AI to spot fraudsters on social media, and a new AI tool will help review cyber‑audit reports.
What this means for investors
With the NOC expected, the NSE IPO could open a $5 trillion‑size market to retail investors, giving them a chance to own a slice of India’s biggest exchange.
Remember, this is perspective, not prediction. Do your own research before making any investment decisions.