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Informist, Friday, Aug. 28, 2026

 

MUMBAI - The National Stock Exchange of India Ltd. did not receive the Securities and Exchange Board of India's approval for its initial public offering application in the week ended Friday, as per the market regulator's latest update on processing status of draft offer documents released Friday. The processing status of the draft red herring prospectus of NSE's offer-for-sale-only initial public offering was unchanged.

 

The response from the lead manager of NSE's proposed public offering to clarifications sought by SEBI is still awaited, SEBI said in Friday's update. This was the same status on SEBI's previous update of Aug. 21.

 

The NSE had filed on Jun. 18 the draft red herring prospectus for its initial public offering. The offering comprises an offer for sale of 148.91 million shares to be offloaded by some existing shareholders.

 

On Aug. 19, NSE Managing Director and Chief Executive Ashishkumar Chauhan, in a speech at a capital markets conference, had thanked SEBI for moving forward on the exchange's application. Thursday, at an event organised by NSE Clearing, SEBI Chairman Tuhin Kanta Pandey had said the market regulator was close to approving the exchange's initial public offering.

 

The NSE will get the approval for its initial public offering when SEBI issues the final observation letter. The exchange has already conducted some roadshows for select institutional investors. These are likely to be expanded after SEBI's approval. NSE will also announce the dates for its offering only after receiving the go-ahead from the market regulator.  End

 

Reported by Rajesh Gajra

Edited by Rajeev Pai

 

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