Is NSE Ready to Begin the DRHP Process After Securing SEBI's No Objection Certificate?
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Synopsis
The NSE eagerly anticipates the NOC from SEBI to kickstart its IPO process. Ashish Chauhan, the NSE CEO, provides insights on the anticipated filing of the DRHP and highlights India's remarkable growth in capital markets. Will this lead to a new chapter for NSE?
Key Takeaways
- NSE is pending a No Objection Certificate from SEBI.
- The Draft Red Herring Prospectus filing will commence post-NOC.
- India is now the fourth-largest equity market globally.
- Market capitalization has grown substantially since 1994.
- Collaboration between NSE and SEBI aims to ensure a smooth IPO process.
Mumbai, June 10 (NationPress) The National Stock Exchange (NSE) is currently awaiting the No Objection Certificate (NOC) from the capital markets regulator. Once this crucial document is obtained, the exchange will initiate the process of submitting its Draft Red Herring Prospectus (DRHP) for its anticipated Initial Public Offering (IPO), according to Ashish Kumar Chauhan, Managing Director and CEO of NSE.
In a statement to IANS, Ashish Chauhan mentioned that the exchange is in the process of acquiring the NOC from the Securities and Exchange Board of India (SEBI).
Upon receiving the NOC, "we will draft our red herring prospectus (DRHP) and subsequently submit it to SEBI for approval," he stated.
Last month, SEBI Chairman Tuhin Kanta Pandey indicated that outstanding issues concerning the NSE's IPO would soon be addressed, allowing the regulator to advance the process.
While speaking to the media during an Assocham event in the national capital, Pandey remarked: "We are optimistic about moving forward. Discussions between NSE and SEBI are ongoing to resolve any remaining issues. I am hopeful that we will proceed shortly."
When asked for a specific timeline, the SEBI chief refrained from providing a date but assured that all pending matters would be resolved soon, setting the stage for progress.
Pandey also noted that SEBI and NSE are collaborating closely to tackle regulatory challenges and facilitate a seamless IPO process.
During the same Assocham event, Ashish Chauhan emphasized the robust performance of India’s capital markets, which he believes mirror the overall strength and resilience of the nation's economy.
The NSE CEO highlighted that India has emerged as the fourth-largest equity market globally, stating, "Since its inception in 1994, India’s market capitalization has expanded over 120 times and currently stands at around Rs 440 lakh crore or $5.1 trillion," he conveyed to attendees.
Point of View
I maintain a neutral perspective on the ongoing developments at NSE. The exchange is poised for significant growth, contingent upon SEBI's approval. This interplay between regulatory oversight and market readiness is crucial for maintaining investor confidence and ensuring a robust financial ecosystem in our nation.
NationPress
11/06/2025
Frequently Asked Questions
What is the current status of NSE's IPO?
NSE is currently awaiting the No Objection Certificate from SEBI to begin the Draft Red Herring Prospectus process.
When is the NSE expected to file its DRHP?
The filing of the DRHP will commence once NSE receives the No Objection Certificate from SEBI.
How has India's capital market performed?
India's capital market has shown remarkable growth, becoming the fourth-largest equity market globally with a market capitalization of approximately Rs 440 lakh crore or $5.1 trillion.
Who is the CEO of NSE?
The current CEO of NSE is Ashish Kumar Chauhan.
What did SEBI Chairman Tuhin Kanta Pandey say about NSE's IPO?
He expressed optimism that pending issues will be resolved soon, allowing the IPO process to move forward.
