NSE seeks NoC from Sebi to launch IPO

NSE Seeks SEBI NoC for IPO.

Expert Analysis:

• Reapplication for IPO: NSE has reapplied for a 'no-objection' certificate with SEBI, advancing towards its long-pending IPO.

• Regulatory and Legal Issues: NSE faced a Rs 1,100 crore fine in April 2019 for non-compliance.

• SEBI Approval and Legal Status: NSE has received SEBI approval to increase share capital and issue bonus shares in a 4:1 ratio; the co-location case is pending in the Supreme Court, with the next hearing on September 3.

• IPO Size: The IPO could raise Rs 28,000-30,000 crore, making it the largest since LIC's Rs 21,000 crore and Paytm's (Rs 18,300 crore) offering.