'Can't give you the timeline but it will be done soon': What SEBI chief said on NSE IPO

Tuhin Kanta Pandey, the chairperson of the Securities Exchange Board of India (SEBI) has thrown some light on the much anticipated initial public offering (IPO) of the National Stock Exchange of India (NSE) on Thursday, May 22. Dalal Street participants are keenly awaiting the initial public offering (IPO) of NSE, which has been abeyance for quite a sometime.

When asked about a timeline for NSE's primary stake sale, SEBI Chairman Tuhin Kanta Pandey said, "All the outstanding issues will be resolved and we will move forward. I can't give you the timeline but it will be done soon. NSE and SEBI are talking. They are resolving the issues."

NSE shares have been among the most demanded shares in the unlisted market. Recently, NSE had come under the spotlight lately as the shareholders count in the world's largest derivative exchange had crossed 1 lakh mark, signaling its craze among the retail investors.

The National Stock Exchange (NSE) submitted its IPO prospectus in December 2016. Its shares remain among the most actively traded in the unlisted market. In March this year, NSE approached SEBI for a No Objection Certificate (NOC) to move forward with the process of listing its shares.

However, this is not the first time when the NSE has requested for an NOC from SEBI. The leading exchange had written to the markets watchdog in November 2019 and twice in 2020, followed by August 2024. However, their request went unheard every time. According to the price in the unlisted market, NSE has a valuation close to Rs 4.75 lakh crore.

NSE filed its IPO prospectus in December 2016. Shares of the exchange are one of the most actively traded in the unlisted space. Earlier this year, in March, NSE wrote to SEBI seeking  a No Objection Certificate (NOC) that would allow it to take further steps towards listing of its shares.

NSE reported a marginal 6.55 per cent year-on-year (YoY) jump in its net profit to Rs 2,650.11 crore, while its consolidated total income dropped Rs 4,397 crore. For the entire financial year 2024-25, NSE clocked a 47 per cent jump in its net profit at Rs 12,187.94 crore, with a 16.7 per cent YoY rise in total revenue to Rs 19,176.83 crore.

The company board of NSE has recommended a dividend of Rs 35 per share or 3,500 per cent for FY25, subject to shareholders approval. NSE held 99.8 per cent market share in equity futures, 94.6 per cent in the cash segment, 93.9 per cent in currency derivatives, and 81.2 per cent in equity options as of Q4FY25.