SEBI has issued its No Objection Certificate (NOC) for the long-awaited IPO of the National Stock Exchange (NSE India), marking a significant milestone in the exchange’s journey towards listing
The The Hindu BusinessLine (Akshata Gorde) in this regard has reported that NSE India is expected to take eight to nine months to launch the public issue. The IPO is likely to be structured as an Offer for Sale (OFS), with no fresh capital being raised by the company.
The article also notes that SEBI, through its Market Regulation Department, has conveyed its no-objection for NSE India to proceed, even as the regulator continues to process NSE’s settlement application in relation to the long-running co-location and dark fibre matters. The settlement proposal is expected to move through the High Power Advisory Committee (HPAC) and thereafter to SEBI’s Whole Time Members for final clearance, following which it may seek withdrawal of related cases pending before the Supreme Court.
In this context, Mr. Sumit Agrawal, Founder, Regstreet Law Advisors, and former SEBI Officer was quoted by The Hindu BusinessLine in its article titled “SEBI clears the path for NSE IPO”, stating:
“𝘕𝘚𝘌 𝘤𝘢𝘯 𝘯𝘰𝘸 𝘮𝘰𝘷𝘦 𝘵𝘰𝘸𝘢𝘳𝘥 𝘶𝘱𝘥𝘢𝘵𝘪𝘯𝘨 𝘢𝘯𝘥 𝘳𝘦-𝘧𝘪𝘭𝘪𝘯𝘨 𝘪𝘵𝘴 𝘰𝘧𝘧𝘦𝘳 𝘥𝘰𝘤𝘶𝘮𝘦𝘯𝘵𝘴, 𝘤𝘰𝘮𝘱𝘭𝘦𝘵𝘪𝘯𝘨 𝘚𝘌𝘉𝘭’𝘴 𝘳𝘦𝘷𝘪𝘦𝘸 𝘱𝘳𝘰𝘤𝘦𝘴𝘴, 𝘢𝘯𝘥 𝘱𝘳𝘰𝘤𝘦𝘦𝘥𝘪𝘯𝘨 𝘵𝘰 𝘢 𝘭𝘪𝘴𝘵𝘪𝘯𝘨 𝘰𝘷𝘦𝘳 𝘵𝘩𝘦 𝘤𝘰𝘮𝘪𝘯𝘨 𝘮𝘰𝘯𝘵𝘩𝘴. 𝘛𝘩𝘦 𝘦𝘹𝘤𝘩𝘢𝘯𝘨𝘦 𝘤𝘢𝘯 𝘰𝘧𝘧𝘪𝘤𝘪𝘢𝘭𝘭𝘺 𝘣𝘦 𝘳𝘦𝘱𝘳𝘦𝘴𝘦𝘯𝘵𝘦𝘥 𝘣𝘺 𝘮𝘦𝘳𝘤𝘩𝘢𝘯𝘵 𝘣𝘢𝘯𝘬𝘦𝘳𝘴, 𝘭𝘢𝘸𝘺𝘦𝘳𝘴 𝘢𝘯𝘥 𝘢𝘤𝘤𝘰𝘶𝘯𝘵𝘢𝘯𝘵𝘴 𝘪𝘯 𝘳𝘦𝘴𝘱𝘦𝘤𝘵 𝘰𝘧 𝘢𝘥𝘥𝘳𝘦𝘴𝘴𝘪𝘯𝘨 𝘚𝘌𝘉𝘐’𝘴 𝘰𝘣𝘴𝘦𝘳𝘷𝘢𝘵𝘪𝘰𝘯𝘴, 𝘧𝘪𝘯𝘢𝘭𝘪𝘴𝘦 𝘱𝘳𝘪𝘤𝘪𝘯𝘨, 𝘴𝘩𝘢𝘳𝘦 𝘢𝘭𝘭𝘰𝘤𝘢𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘳𝘦𝘨𝘶𝘭𝘢𝘵𝘰𝘳𝘺 𝘥𝘪𝘴𝘤𝘭𝘰𝘴𝘶𝘳𝘦𝘴 𝘪𝘯 𝘵𝘩𝘦 𝘶𝘱𝘥𝘢𝘵𝘦𝘥 𝘥𝘳𝘢𝘧𝘵 𝘱𝘳𝘰𝘴𝘱𝘦𝘤𝘵𝘶𝘴.”
Readers are welcome to share their views with Regstreet Law Advisors at info@regstreetlaw.com
Readers may also refer to our earlier post: ‘𝐍𝐒𝐄 𝐈𝐏𝐎: 𝐒𝐮𝐩𝐫𝐞𝐦𝐞 𝐂𝐨𝐮𝐫𝐭 𝐚𝐩𝐩𝐫𝐨𝐯𝐚𝐥 𝐫𝐞𝐦𝐚𝐢𝐧𝐬 c𝐞𝐧𝐭𝐫𝐚𝐥 𝐭𝐨 𝐜𝐥𝐞𝐚𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐢𝐧𝐚𝐥𝐇𝐮𝐫𝐝𝐥𝐞’ available at https://lnkd.in/d6fTpKgE
