NSE IPO Back on Track as SEBI Panel Clears ₹1,800 Crore Settlement Proposal

The long-delayed initial public offering (IPO) of the National Stock Exchange (NSE) has gained fresh momentum after a key recommendation from a panel set up by the Securities and Exchange Board of India (SEBI). The panel has approved a proposal under which NSE would pay around ₹1,800 crore settlement to resolve longstanding regulatory disputes.

This proposed payout, if finalized, would be the largest settlement ever with SEBI and is seen as a decisive move to resolve issues that have stalled the exchange’s public listing for years.

The disputes primarily relate to the co-location case, dark fibre case, along with concerns over corporate governance and fair market access. These issues have been major hurdles since NSE first filed its IPO papers nearly a decade ago.

The recommendation has been cleared by SEBI’s high-powered advisory committee, and the final decision will now be taken by the regulator’s whole-time members.

Earlier, NSE had proposed a lower settlement amount of about ₹1,300 crore, but the revised figure reflects ongoing negotiations and a stronger push to resolve pending cases quickly.

If approved, the settlement is expected to remove one of the biggest regulatory roadblocks and revive the exchange’s IPO plans, potentially paving the way for one of India’s most anticipated stock market listings.