NSE Board Approves IPO Plan and Forms Listing Committee
The National Stock Exchange of India (NSE) officially approved its plan for an Initial Public Offering (IPO) on Friday. The offering will consist entirely of an Offer-for-Sale (OFS), meaning existing shareholders will sell their shares and no new shares will be issued.
This board approval comes just days after the Securities and Exchange Board of India (SEBI) issued a “no-objection” certificate (NOC) for the long-awaited public listing.
New IPO Committee Established
In an official statement, the NSE confirmed it has reformed its IPO Committee to manage the listing process. The committee will be led by Tablesh Pandey, a non-independent director.
Other members of the panel include:
- Ashishkumar Chauhan: Managing Director and CEO
- Srinivas Injeti: Public Interest Director
- Mamata Biswal: Public Interest Director
- Justice (Retired) Abhilasha Kumari: Public Interest Director
- G Sivakumar: Public Interest Director
A Long Wait for Listing
The NSE is one of India’s two major stock exchanges. It originally filed for an IPO in 2016, but the process was delayed for nearly a decade due to regulatory issues and ongoing legal cases.
According to sources familiar with the matter, the exchange is expected to file its draft paperwork (DRHP) within the next three to four months. If the timeline stays on track, the actual listing could happen in about eight to nine months.
Plans for a New Coal Exchange
In addition to the IPO news, the NSE board approved the creation of a new coal exchange subsidiary. The exchange will be named either the “National Coal Exchange,” “Bharat Coal Exchange,” or “India Coal Exchange.” The NSE plans to invest ₹100 crore to set up this new business.
Strong Quarterly Financial Results
The NSE also shared its financial results for the October-December quarter. The exchange reported a 15% increase in net profit compared to the previous quarter, reaching ₹2,409 crore. A major highlight was the significant jump in profit margins, which rose from 40.4% to 75.9% during the same period.
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