NSE’s Plan to Settle Cases awaits Regulator’s Approval
The National Stock Exchange of India Ltd. is currently waiting for a response from the country’s market regulator regarding its offer to settle long-pending cases. This could potentially pave the way for its much-awaited initial public offering (IPO).
Applications Filed for Settlement
The operator of India’s largest stock exchange submitted two applications to the Securities and Exchange Board of India on June 20. These applications are aimed at resolving issues related to the co-location services and unauthorized installation of fiber optic lines. The details of the offer have not been disclosed by NSE.
Record-Breaking Settlement Offer
Reports from Bloomberg News in June highlighted that NSE has put forth an offer amounting to nearly 14 billion rupees ($161 million) to settle legal matters. If accepted, this move could potentially remove a major hurdle for the stock exchange’s public listing, which has been pending since 2016.
Issues Affecting IPO Plans
The listing plans of NSE have faced obstacles as the market regulator has placed a hold due to ongoing cases dating back to 2015. These cases involve allegations of high-frequency trading firms gaining unfair access to NSE’s co-location servers. Despite these setbacks, investor interest in the exchange’s unlisted shares remains strong.
Stay tuned for more updates.
