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NSE IPO Closer as Sebi Lifts Listing Ban
10 Jan
Summary
- Sebi to issue no-objection certificate for NSE IPO soon.
- NSE IPO was delayed due to the dark fibre case allegations.
- Sebi also plans framework for performance-linked mutual fund expenses.
The Securities and Exchange Board of India (Sebi) is expected to issue its no-objection certificate for the National Stock Exchange's (NSE) initial public offering before the end of this month, paving the way for its potential listing. This move aims to resolve prolonged regulatory and legal issues that have hindered the NSE's IPO process for years.
The NSE's listing plan had faced significant obstacles, primarily due to the dark fibre case. Allegations of high-frequency traders receiving preferential access to co-location servers between 2010 and 2014 led to regulatory penalties. Sebi had directed the NSE to disgorge unlawful gains and barred senior officials, although some penalties were later challenged.
In addition to advancing the NSE IPO, Sebi chairman Tuhin Kanta Pandey announced a forthcoming framework for performance-linked expense ratios for mutual funds. Sebi is also focusing on simplifying KYC processes and enhancing market surveillance using artificial intelligence, underscoring a commitment to market integrity and investor protection.
