NSE Clears Regulatory Hurdle, Moves Closer to Long-Awaited IPO

India’s National Stock Exchange (NSE), the country’s largest bourse, has received regulatory approval to move ahead with its long-awaited initial public offering, according to two sources familiar with the matter. Neither the exchange nor market regulator SEBI immediately responded to requests for comment.

The approval comes despite NSE’s ongoing settlement process with the Securities and Exchange Board of India, stemming from a 2019 case in which the exchange was fined 11 billion rupees for failing to ensure equal access to its trading systems. NSE had earlier proposed paying 13.88 billion rupees to resolve the dispute, a step that sources say will continue alongside IPO preparations without causing delays.

Earlier this month, there were reports that NSE plans to file its draft prospectus by the end of March, bringing India’s biggest exchange—and the world’s most active derivatives marketplace—closer to a landmark public listing.

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