India’s markets regulator will this month issue an approval needed for the country’s biggest bourse, the National Stock Exchange, to launch its stock market offering, it said on Saturday.
NSE, also the world’s most active derivatives exchange, has been in litigation with the Indian market regulator SEBI since 2019, when it was fined 11 billion rupees ($122.04 million) for failing to provide equitable access to all its trading members.
NSE offered $160 million to settle the matter, Reuters reported in June.
“We will soon issue a NOC (no objection certificate) to NSE and after that, they will start preparation,” Tuhin Kanta Pandey, SEBI chairman, told reporters in Chennai.
The approval, which he said would be issued this month, will allow the NSE to prepare its IPO prospectus and is a crucial step in gaining IPO approval, given the dispute between the two sides.
Reuters
