Business Economy


NSE IPO: SEBI says no proposal to trade own shares on its platform

New Delhi, Sep 17 (UNI) The Securities and Exchange Board of India (SEBI) has clarified that it has not received any request from the National Stock Exchange (NSE) seeking permission to trade its own shares on the exchange after its upcoming public listing.
SEBI Chairman Tuhin Kanta Pandey said on Thursday that there is currently no provision allowing such trading. “No, there is no such letter, and there is no such requirement.”
The clarification comes as NSE's much-awaited Rs 22,569-crore initial public offering opened for subscription on Thursday. The issue will remain open until September 21 and comprises an offer for sale (OFS) of 12.64 crore existing equity shares.
The IPO has a price band of Rs 1,700-1,785 per share. Since the issue is entirely an OFS, NSE will not receive the money raised from the share sale. After accounting for issue-related expenses, the proceeds will accrue to the existing shareholders offering their shares.
At the upper end of the price band, retail investors need to bid for a minimum lot of eight shares, translating into a minimum investment of Rs 14,280. NSE is expected to list its shares on the BSE on September 24.
The IPO values NSE at around Rs 4.4 lakh crore at the upper end of the price band. Ahead of the public issue, the exchange had raised Rs 6,746 crore from anchor investors, with shares allotted at Rs 1,785 a piece.
The question of whether NSE could eventually trade its own shares has attracted attention because the exchange itself is preparing to become a listed company.
However, Pandey's comments make clear that there is currently no regulatory approval or proposal before SEBI for such an arrangement.
NSE operates across several segments of India's capital markets, including cash equities, equity derivatives, mutual funds, commodity and currency derivatives, wholesale debt and interest-rate products. It also generates revenue through market data and index-related services.
The exchange has remained a dominant platform in India's cash-equity and equity-derivatives markets. Its business performance, investor base, regulatory environment and dependence on trading activity are among the factors being closely watched as investors assess the IPO.
The NSE issue is also significant for the wider capital market as it marks the long-awaited public listing of one of India's largest stock exchanges. The IPO follows years of regulatory and legal developments surrounding the exchange's proposed listing.
For now, NSE shares are set to begin trading on the BSE, while any possibility of the exchange's shares being traded on NSE itself remains outside the existing regulatory framework. UNI VK SAS
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