&w=3840&q=100)
National Stock Exchange offers $118 mn to settle Sebi case, revive IPO
Bloomberg
By Savio Shetty, Ruchi Bhatia and Chiranjivi Chakraborty
The National Stock Exchange of India Ltd. is said to be offering a record amount of about Rs 1,000 crore ($118 million) to settle a longstanding dispute with the country's market regulator, according to a person involved in the discussions, likely paving the way for its public listing.
The Securities and Exchange Board of India will discuss the offer, and a decision is expected soon, people familiar with the matter said, asking not to be identified as the discussions are private. The regulator is inclined to settle the legal issue, they said, which would enable the world's largest derivative exchange by contracts to secure a no-objection certificate.
Sebi had previously halted NSE's listing plans due to several ongoing cases dating back to 2015, involving allegations that some high-speed traders gained unfair access to its co-location servers. The regulator's investigation not only derailed the exchange's IPO ambitions in 2016, but also later resulted in the NSE being banned from accessing capital markets for six months.
The NSE in October paid Rs 6,400 crore to the regulator to settle a case involving alleged unfair access to its trading platform.
Signs of a potential settlement emerged after Sebi's newly appointed Chairman Tuhin Kanta Pandey said last week that the regulator is working closely with the NSE to resolve issues hindering its IPO.
Following the exchange's annual earnings earlier this month, Chief Executive Officer Ashish Kumar Chauhan told analysts and investors that the regulator had identified four areas requiring resolution, including pending legal cases.
Meanwhile, investor interest in NSE remains robust. The exchange, backed by investors like Life Insurance Corp. of India and Canada Pension Plan Investment Board, has seen its private market valuation jump from $36 billion in September to $50 billion, according to a marketing material posted on Linkedin last week by US-based investment firm Drew Investments.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
21 minutes ago
- Economic Times
How foreign investors can secure permanent residence in Singapore
Agencies Singapore has positioned itself as a top destination for wealthy and experienced foreign entrepreneurs through its Global Investor Program (GIP), which offers a route to permanent residency. The initiative is designed for investors who wish to live, work, and contribute to the country's economy by starting businesses or making substantial investments. Successful applicants can expect to obtain permanent residence status within nine to twelve months. The program is part of the Singaporean government's broader aim to attract global talent and strengthen its business environment. Applicants must meet strict eligibility requirements and choose from three investment options, each tied to job creation or capital deployment in Singapore. Investment options under the program Applicants can select one of the following investment paths:1. Option A: Invest SGD 10 million (including paid-up capital) into a new or existing business in Singapore and employ at least 30 staff, half of whom must be Singaporean citizens. For existing businesses, 10 employees must be new hires.2. Option B: Invest SGD 25 million in a fund approved by the Singapore Economic Development Board, which invests in Singapore-based companies.3. Option C: Set up a single family office in Singapore with assets under management of at least SGD 200 million. At least SGD 50 million must be deployed in approved investments such as listed companies, qualifying debt securities, licensed funds, or private equity in local businesses. The office must employ at least five additional professionals over five years, including three Singaporean citizens. Application process and eligibility The program is open to established business owners, next-generation business leaders, founders of fast-growing tech firms, and family office principals with significant entrepreneurial must submit an e-application, a personal profile, and a detailed investment plan, along with hard copy supporting documents. After an interview and assessment, eligible applicants receive an Approval in Principle, valid for six months. The investment must be completed within this period. Permanent residence status must be formalized within a year of final and children under 21 can be included in the application. Male dependents must serve national service. Parents and unmarried children over 21 are not eligible but can apply for a five-year long-term visit pass. Benefits of Singaporean Permanent Residence Permanent residents in Singapore enjoy several advantages, including political and economic stability, low crime rates, and a high standard of living. The country offers world-class education, healthcare, and public transport systems, alongside advanced business infrastructure and a favorable tax a population of around six million and English and Mandarin as main languages, Singapore maintains a multicultural society. Its territorial taxation system means individuals are generally taxed only on income sourced within the country, a factor that appeals to foreign investors. Re-entry permits and citizenship path Once permanent residence is formalized, investors receive a five-year re-entry permit (REP), allowing them to travel without losing residency status. REP renewal requirements vary by investment option and may include meeting business targets or maintaining physical presence in two years as a permanent resident, individuals may apply for Singaporean citizenship, which is granted on a single-citizenship basis. The Singapore passport is currently ranked the world's strongest, offering visa-free or visa-on-arrival access to 193 destinations, including Europe's Schengen Area, the USA, and Singapore's ban on dual citizenship means applicants must be prepared to renounce their existing nationality if they seek citizenship. (Join our ETNRI WhatsApp channel for all the latest updates) Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
India.com
23 minutes ago
- India.com
Bad news for Amazon, this state authorities issue notice over fake…, ask company to apologize and remove…
Authorities on Wednesday served notices to a West Bengal-based private firm and e-commerce major Amazon over allegations of misbranding fake carpets as 'authentic Kashmiri handmade silk carpets.' 'NOTICES issued 2 @jewelcarpet & @amazonIN for misbranding #KashmirCrafts,' Director, Department handicraft and handloom Mussarat Zia said in a post on X. What Are Allegations Against Amazon? Attaching a screenshot of the misbranded carpet to his post, Zia said, 'They must b crazy offering 50% rebates on cheap FAKES in name of Authentic Kashmiri Handmade Silk Carpet for '‚¹2,160 & '‚¹2,630. UNACCEPTABLE. Brings disrepute 2 artisans & high value items.' NOTICES issued 2 @jewelcarpet & @amazonIN for misbranding #KashmirCrafts They must b crazy offering 50% rebates on cheap FAKES in name of Authentic Kashmiri Handmade Silk Carpet for ₹2,160 & ₹2,630. UNACCEPTABLE. Brings disrepute 2 artisans & high value items@diprjk @dohhkmr — Mussarat Zia (@mussarat_zia) August 13, 2025 The size of silk carpet mentioned in the Amazon listing would cost upwards of Rs 25,000. The company has been also directed to provide details of all sales of the misbranded products and submit a compliance report within three days. Amazon India Quick-Commerce Plans Amazon India head Samir Kumar on Wednesday said the e-commerce company has seen an overwhelming response from customers in Bengaluru and Delhi, where it recently launched quick-commerce offering, and hinted at 'big plan to grow beyond', urging people to 'stay tuned'. Online commerce space has ample room for multiple players and it is still early days, Kumar – Country Manager at Amazon India told PTI in an interview. 'We at Amazon, believe that competition is always good for us. We welcome that. But at the same time, this whole space, e-commerce and online commerce, is such a big space,' he said. There's room for multiple players, Kumar said adding 'we believe it's very early on.' 'We are still scratching the surface,' he pointed out. On the Amazon Now, the company's quick commerce play in Bengaluru and New Delhi, Kumar said the response has been overwhelming. '…On beyond Bengaluru and Delhi, stay tuned for that. We have a very big plan to grow beyond…,' he said about the ultra fast delivery service. (With Inputs From PTI)
India.com
23 minutes ago
- India.com
Former US ambassador makes massive statement, explains why Donald Trump imposed 50 percent tariff on India, lack of response led to...
Donald Trump- File image New Delhi: US President Donald Trump has imposed a steep 50 percent tariff on India over its purchases of Russian oil. The new rate will come into effect in 21 days, so on 27 August, according to the executive order. A response from India's foreign ministry said Delhi had already made clear its stance on imports from Russia, and reiterated that the tariff is 'unfair, unjustified and unreasonable'. To recall, in May, the Modi government outrightly rejected Trump's so-called role in the ceasefire with Pakistan. Former Indian ambassador and renowned author Vikas Swarup revealed that Trump's displeasure is also linked to India joining the BRICS organisation and refusing to bow to US pressure during trade negotiations. While talking to news agency ANI, the former Indian ambassador said that India–US relations are strategic, whereas US–Pakistan relations are merely a money game. The ambassador also praised India's firm stance. He also warned that Trump's tariffs would lead to a rise in inflation within the United States itself. What Vikas Swarup say: In an interview with ANI, Vikas Swarup, who is a former High Commissioner to Canada, said steps being taken by the US President Donald Trump will eventually lead to ratcheting up inflation in America. 'US called India a 'Tariff King'. But now the 'Tariff King' in the world is the United States because our average tariff is about 15.98%. The US tariff today is 18.4%. So, it is now the 'Tariff King' of the world. But the fact is, tariffs are bringing in money. They will bring in about a 100 billion dollars a year for the US. But the issue is that eventually who will pay for these tariffs? By American consumers. So, what's going to happen is this is going to ratchet up inflation in America, it's going to ratchet up prices in America. I think that's when the chickens will come home to roost,' he said. 'If you cave in to a bully then the bully will increase his demands. Then there will be even more demands. So, I think we have done the right thing. India is too large, too proud a country to become a camp follower of any other country. Our strategic autonomy has been the bedrock of our foreign policy right from the 1950s. I don't think that any Govt in Delhi can compromise on that,' says former diplomat Vikas Swarup on the tariff rift between India and the US,' he added. President Trump announced 25 per cent tariffs on Indian goods plus an unspecified penalty in July, even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs. A few days later, he imposed another 25 per cent tariff, taking the total to 50 per cent, over India's imports of Russian oil. On Opposition questioning India's Foreign Policy and diplomacy, Vikas Swarup said India should not cave in to any pressure as India's strategic autonomy is non-negotiable'. Here, I would not blame our diplomats at all. I think what has happened is Pakistan, through some intermediaries, has gotten the ear of the US President and that is why, two visits by Asim Munir to Washington, the so-called 'deal' with America on so-called 'oil reserves' of Pakistan. More importantly, I think Pakistan is now trying to position itself as the 'Crypto King' of South Asia and there, through World Liberty Financial in which Trump's family has stakes, Steve Witkoff's family has a stake, through that I think Pakistan has managed to project an image of itself as a reliable partner…All these things have led to Trump having a softer approach towards Pakistan,' he said.
