SEBI Gives NOC to NSE IPO After A Decade Long Wait

SEBI, the Securities and Exchange Board of India, finally gave the NOC (Non Objection Certificate) after a long wait of 10 years to NSE, National Stock Exchange of India Ltd for the IPO, that is, Initial Public Offerings. Finally, the largest exchange in the nation, the National Stock Exchange (NSE), has received a NOC from the markets regulator SEBI to move forward with its long awaited public listing, according to an official on Friday.

Having overcome regulatory obstacles and implemented governance reforms, NSE is now prepared for what might be India’s biggest public offering ever.

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The exchange submitted its draft offer documents in 2016 in an effort to generate about Rs. 10,000 crore via an offer for sale by current stockholders. However, because of regulatory issues pertaining to the co-location matter and governance failures, SEBU refused to give its approval. The regulator has received several clearance requests from NSE since that time, reported by PTI.

The current value of the NSE is Rs. 5.2 trillion, using its unlisted share price of Rs. 2,105, according to InCred Money. A corporation with a post issue market cap of more than Rs. 5 trillion may now sell a minimum of 2.5% of its paid-up share capital at first, according to SEBI’s new regulations governing minimum public shareholding.