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Economic Times
7 hours ago
- Business
- Economic Times
NSE IPO clears final regulatory hurdles, as Sebi chief Tuhin Kanta Pandey says no obstacle remains
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel India's largest stock exchange, the National Stock Exchange (NSE), has inched closer to its long-pending initial public offering after SEBI Chairman Tuhin Kanta Pandey confirmed that there are 'no obstacles' remaining for the bourse to proceed with its plans. The statement marks a critical regulatory green light in a process that has been stalled for nearly a at the FE CFO Awards on Friday, Pandey said there is no obstacle that will remain in case of NSE IPO , according to ETNow. While he declined to offer a timeline when asked if the IPO could materialise before Diwali, his remarks signal the clearest indication yet that the exchange may soon head to the public has put on hold proposals to separate clearing corporations from stock exchanges, removing a key regulatory hurdle that had previously complicated NSE's path to listing. Pandey indicated that the regulator is comfortable with the current ownership structure and does not view it as a barrier to the IPO. He noted that models for clearing corporation ownership vary globally, while brokers typically own them in the U.S., they operate as separate entities in addition to receiving regulatory clearance, NSE is currently working through a few pending legal matters. This includes settling certain processes that may involve financial payments and the withdrawal of specific cases. While Pandey acknowledged these ongoing steps, he did not disclose further details on the nature of the settlements or the amounts exchange has already paid Rs 640 crore to SEBI in October 2024 to settle a regulatory case, and a Bloomberg report previously said NSE had offered Rs 1,000 crore in a broader settlement proposal to resolve legacy is expected to form a working group to improve fee transparency and ensure clearer governance independence, moves that are likely to reduce compliance friction as NSE prepares for its IPO. Rather than pursuing sweeping structural reforms, the regulator may now focus on unbundling trading and clearing IPO has been in the works since 2016, when the bourse filed draft papers to raise Rs 10,000 crore through an offer for sale of a 22% stake by existing shareholders. Regulatory delays and legal overhangs have kept the process in limbo ever a definitive timeline is still absent, Pandey's assertion that all major hurdles have now been cleared suggests that NSE's long-awaited public debut may finally be on the horizon.
Time of India
8 hours ago
- Business
- Time of India
NSE IPO clears final regulatory hurdles, as Sebi chief Tuhin Kanta Pandey says no obstacle remains
India's largest stock exchange, the National Stock Exchange (NSE), has inched closer to its long-pending initial public offering after SEBI Chairman Tuhin Kanta Pandey confirmed that there are 'no obstacles' remaining for the bourse to proceed with its plans. The statement marks a critical regulatory green light in a process that has been stalled for nearly a decade. Speaking at the FE CFO Awards on Friday, Pandey said there is no obstacle that will remain in case of NSE IPO , according to ETNow. While he declined to offer a timeline when asked if the IPO could materialise before Diwali, his remarks signal the clearest indication yet that the exchange may soon head to the public markets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo SEBI has put on hold proposals to separate clearing corporations from stock exchanges, removing a key regulatory hurdle that had previously complicated NSE's path to listing. Pandey indicated that the regulator is comfortable with the current ownership structure and does not view it as a barrier to the IPO. He noted that models for clearing corporation ownership vary globally, while brokers typically own them in the U.S., they operate as separate entities in India. In addition to receiving regulatory clearance, NSE is currently working through a few pending legal matters. This includes settling certain processes that may involve financial payments and the withdrawal of specific cases. While Pandey acknowledged these ongoing steps, he did not disclose further details on the nature of the settlements or the amounts involved. The exchange has already paid Rs 640 crore to SEBI in October 2024 to settle a regulatory case, and a Bloomberg report previously said NSE had offered Rs 1,000 crore in a broader settlement proposal to resolve legacy issues. Live Events SEBI is expected to form a working group to improve fee transparency and ensure clearer governance independence, moves that are likely to reduce compliance friction as NSE prepares for its IPO. Rather than pursuing sweeping structural reforms, the regulator may now focus on unbundling trading and clearing fees. NSE's IPO has been in the works since 2016, when the bourse filed draft papers to raise Rs 10,000 crore through an offer for sale of a 22% stake by existing shareholders. Regulatory delays and legal overhangs have kept the process in limbo ever since. While a definitive timeline is still absent, Pandey's assertion that all major hurdles have now been cleared suggests that NSE's long-awaited public debut may finally be on the horizon. Also read | No obstacle will remain in NSE IPO: Sebi Chairman Tuhin Kanta Pandey ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
21 hours ago
- Business
- Economic Times
No obstacle will remain in NSE IPO: Sebi Chairman Tuhin Kanta Pandey
Sebi chairman Tuhin Kanta Pandey on Friday affirmed that no obstacle will remain for the country's largest stock bourse NSE to go ahead with its initial public offer (IPO). ADVERTISEMENT Asked whether the much-delayed IPO will happen before Diwali, the chief of the capital markets regulator declined to share any timeline. "There is no obstacle that will remain in case of NSE IPO," he said, speaking at the FE CFO Awards here. Pandey reiterated that the Sebi is fine with the ownership of clearing corporation by the stock bourses, and added that the ownership is "not an obstacle" in the run up to the IPO. Pandey explained that every country has its own models when it comes to ownership of clearing corporations, pointing out that brokers own it in the US, while they sit as separate entities in India. The career bureaucrat-turned-regulator, who assumed office in March, said NSE is in the process of settling some legal processes, which will entail paying some amounts and withdrawal of some cases at present. ADVERTISEMENT He, however, did not elaborate on the exact nature of the settlements and the payments which need to be done. Sebi is not pushing the 'T+0' settlement period right now, given the complexities involved in its especially with regard to the foreign investors' play, he said, suggesting that it will continue to be a optional facility. ADVERTISEMENT We must aim to take the total number of domestic investors to 400 million in the next five years from the present 130 million unique investors in the capital market. Citing his discussions with foreign investors both in India and abroad, Pandey said tax issues are not a deterrent for them but it is other factors which influence the bets. ADVERTISEMENT "Overall, our markets are stable, our domestic investors, domestic flows are good, capable of handling the volatility, our volatility, which was also increased post tariff like rest of the world, but it was not as high as in some other countries, those exchanges and certainly it is well within our manageable limit," he said. Earlier, Pandey also spoke about the need to regulate less in order to spur economic growth. ADVERTISEMENT He said chief financial officers play a critical role in ensuring the financial integrity and accountability of listed companies and added that timely, accurate and reliable financial information is owed to them. "The market looks to you for credibility. Investors depend on your disclosures. Regulatory bodies rely on your adherence," he said. The Sebi chief said nobody can guarantee that egregious behaviour will not be there, and spoke about the recent experience with the Gensol case in this context, asserting that the findings in the matter should not make one veer away from the agenda of ease of regulations. (You can now subscribe to our ETMarkets WhatsApp channel)
