The National Stock Exchange of India NSEI.NS, the country’s largest exchange, received regulatory approval on Friday to proceed with its long-awaited initial public offering, two people close to the matter told Reuters.
The regulator and NSE did not immediately respond to requests for comment.
India’s biggest bourse and the world’s most active derivatives exchange has been embroiled in litigation with the Securities and Exchange Board of India (SEBI) since 2019, when it was fined 11 billion rupees ($119.70 million) for failing to provide equitable access to all its trading members.
NSE had offered to pay SEBI 13.88 billion rupees to settle the dispute so it could proceed with the IPO, Reuters reported last year, citing sources. The settlement process would continue and not hamper NSE’s plans to go public, according to one of the sources.
Earlier this month, Reuters reported that the exchange plans to file a draft prospectus for the IPO by the end of March.
Reuters
