SEBI Chief says outstanding issues on NSE IPO will be cleared soon - World News Network

New Delhi [India], May 22 (ANI): The long-awaited initial public offering (IPO) of the National Stock Exchange (NSE) may soon get the green light, as the Securities and Exchange Board of India (SEBI) and the NSE are actively working to resolve pending issues.
SEBI Chairman Tuhin Kanta Pandey said on Thursday that both parties are in talks to clear the path for the IPO.
Speaking to reporters in Delhi, Pandey said, “NSE IPO I think all I can say is that all the outstanding issues will be resolved and we will move forward. I can’t give you the timeline, but I think we should be soon doing it.”
While he refrained from committing to a specific date for the IPO, Pandey sounded optimistic. “NSE and SEBI, they are talking and I think they are resolving the issues. I am very hopeful that this will be cleared and we will move forward,” he said.
On the topic of cryptocurrency regulation in India, Pandey clarified that crypto does not currently fall under SEBI’s jurisdiction. “That is a policy call to be taken by the government. Crypto as such is not a security at the moment under SEBI,” he stated.
When asked about SEBI’s role in looking into the recent issue involving Gensol Engineering, Pandey responded, “If there are any egregious violations by anyone in its capacity, that SEBI is looking.”
These remarks come at a time when investors and market watchers are closely tracking developments related to the NSE IPO and other regulatory actions in the capital markets.
The long-awaited IPO of the NSE is under review by the Securities and Exchange Board of India (SEBI), and both sides are working to resolve the flagged issues.
Market regulator SEBI has flagged key issues on NSE IPO, which includes high compensation given to key managerial personnel, technology, and ownership in the clearing corporation.
SEBI has recently disposed of pending cases against NSE former officials in the co-location case, which was seen as the end of the block for the much-awaited Initial Public Offer (IPO) of the leading exchange.
In late 2016, NSE had filed the draft red herring prospectus for its Initial Public Offer (IPO), with the market regulator SEBI, looking to then raise reportedly Rs 10,000 crore.
But the plans did not go through because of various issues flagged by the market regulator and a pending co-location case against NSE’s former officials.
BSE, which is a competitor of NSE, got listed in 2017 and became the first listed stock exchange of India. (ANI)

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