India’s National Stock Exchange of India (NSE) is moving closer to a long-awaited initial public offering (IPO), with plans to go public within the next seven to eight months, according to CNBC-TV18.
Citing Jin10, the report notes that NSE has received approval from market regulators and is currently in the process of drafting its red herring prospectus (RHP). NSE CEO Ashish Kumar Chauhan stated that preparation of the document is expected to take around four months, followed by an additional two to three months to secure final regulatory clearance and formally launch the IPO.
The IPO plan received approval this week from the Securities and Exchange Board of India (SEBI)—nearly a decade after NSE first filed its IPO application in 2016. The listing had been delayed for years due to regulatory concerns surrounding corporate governance practices and allegations of unfair market access.
As part of efforts to resolve outstanding legal issues, NSE has submitted two settlement applications totaling 12.97 billion rupees (approximately $141 million), clearing a key hurdle toward its public listing.