NSE waiting for SEBI nod to launch IPO, ready to begin process: CEO Ashish Chauhan

In 2021, NSE had to halt trading for several hours after its mainframe and disaster recovery sites malfunctioned.

The National Stock Exchange is ready to begin its IPO process, but is waiting for green light from capital markets regulator SEBI to take the country's largest stock exchange public, said MD and CEO Ashish Chauhan on April 4 in Mumbai.

Once the market regulator is more comfortable with NSE's operations, the exchange will be allowed to re-apply to float its issue, Chauhan told a delegation of journalists. "As and when SEBI becomes more comfortable, they will tell us to apply (for IPO) and we will go ahead," Chauhan had said in 2023.

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NSE’s listing has been delayed by several years after the exchange got embroiled in corporate governance issues, ranging from its former executive’s role in the 2015 co-location scam to issues with respect to multiple technological failures.

Following its earnings call for Q3FY24 results, international brokerage Jefferies said that the exchange's management "dismissed media reports and indicated that it has not received any clarity on timelines".

In December 2023, CNBC-TV18 reported that SEBI wanted NSE to enhance its technological infrastructure, improve the corporate governance structure and resolve pending legal matters, the report said.

In 2021, NSE had to halt trading for several hours after its mainframe and disaster recovery sites malfunctioned, leading to intense scrutiny from SEBI.

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The National Stock Exchange NSE reported an 8 percent year-on-year rise in its net profit for the December quarter to Rs 1,975 crore. Consolidated revenue from operations grew 25 percent on-year to Rs 3,517 crores for Q3.

Apart from trading revenue, the topline growth was also aided by other sources including data centre and connectivity charges, clearing services, listing services, index services and data services. The net profit margins for Q3FY24 stood at 51 percent.

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