NSE Gets SEBI Nod for IPO, Settlement of Co-location Case Progresses

• The National Stock Exchange (NSE) has received a No Objection Certificate (NOC) from SEBI for its Initial Public Offer (IPO).
• This approval allows NSE to proceed with engaging merchant bankers and law firms to prepare its Draft Red Herring Prospectus (DRHP).
• NSE's IPO is estimated to launch in 8-9 months, with a projected market cap of around Rs 5 Lakh crore, though it will be an Offer for Sale.
• SEBI issued the NOC without waiting for the High Powered Advisory Committee (HPAC) settlement approval, as internal departments agreed on a consent mechanism.
• NSE has agreed to pay approximately Rs 1,400 crore to settle co-location and dark fibre cases, making a provision of Rs 1297 crore in addition to a previous Rs 100 crore deposit.

Why It Matters: NSE secures SEBI's IPO approval, moving forward with its public offering while settling co-location cases.