To get permission for an IPO, SEBI states that NSE must maintain error-free status for a minimum of one year

 To get permission for an IPO, SEBI states that NSE must maintain error-free status for a minimum of one year

To get permission for an IPO, SEBI states that NSE must maintain error-free status for a minimum of one year

Other requirements have also been set by market regulators. The 2015 co-location fraud and many technological setbacks have caused a number of corporate governance problems that have postponed the NSE listing for several years.

The Securities and Exchange Board of India conducted a thorough inquiry when the NSE was forced to suspend trading for many hours in 2021 due to a problem with its mainframe and disaster recovery sites (SEBI).

For the National Stock Exchange's (NSE) planned initial public offering (IPO), the Securities and Exchange Board of India (SEBI) has placed a number of requirements on the NSE. These include guaranteeing error-free operations for a minimum of a year, TV18-CNBC. had provided a report on December 18.

According to the article, the market regulator wants the NSE to reform its corporate governance structure, upgrade its technological infrastructure, and settle outstanding legal issues.

The NSE's listing has been postponed for a number of years due to the exchange's involvement in corporate governance scandals, which include problems with several technological failures and the previous executive's engagement in the 2015 co-location fraud.

Following a failure in its mainframe and disaster recovery sites in 2021, the NSE was forced to suspend trading for many hours, which prompted a thorough inquiry by SEBI.

"Going forward, as the number of investors in India doubles or triples above the current 7.5 crore, SEBI will have to There needs to be trust in processes, technology, as well as intentions," NSE Managing Director as well as Chief Executive Officer Ashish Kumar Chauhan had said at an event earlier this year. We will proceed when SEBI requests that we submit an application (for an IPO) if they feel more at ease.

NSE's non-public ownership as of September 30 is 44.03 percent, below the mandated 49 percent shareholding limit, according to the shareholding pattern. The percentage of public shares held is 55.97%, above the minimum permissible limit of 51 percent. NSE shares were recently put up for sale at a price of Rs 3,150.

The NSE announced a 13% year-over-year increase in consolidated net profit at Rs 1,999 crore for the quarter that concluded in September. In the second quarter under review, consolidated revenue from operations was Rs 3,652 crore, a 24 percent increase over the same time last year.

The exchange said that in addition to trading, listing, index services, data services, and co-location facilities supported the overall income.