NSE Offers ₹1,400 Cr to Sebi in Co-location, Dark Fibre Cases

The Securities and Exchange Board of India (Sebi) has accepted the settlement applications filed by the National Stock Exchange to resolve pending regulatory investigations, potentially paving the way for the long-delayed initial public offering (IPO) of India's largest stock exchange, according to a person familiar with the matter.

- Ram Sahgal & Neha Joshi

MUMBAI:

Sebi is likely to issue a formal no-objection certificate (NOC) by the end of this month, the person said, adding that this would allow the NSE to proceed with filing its Draft Red Herring Prospectus for the IPO.

NSE has offered to pay around ₹1,400 crore to settle pending cases in the Supreme Court. Under Sebi's settlement rules, entities can resolve probes by paying a monetary amount without admitting or denying guilt.

"The fact that an application has been filed for around ₹1,400 crore indicates that the two parties have arrived at a settlement amount. This, in turn, will clear the decks for Sebi to issue the NOC to NSE by month-end," the person said, requesting anonymity.