SEBI has thrown its weight behind NSE’s IPO with a crucial update, prompting CEO Ashish Chauhan to celebrate it as a ‘Tirupati darshan’ – a profoundly auspicious omen. This spiritual spin on regulatory relief has captured national attention.
For context, NSE’s IPO journey hit snags over compliance issues with SEBI’s stringent norms for exchanges. The fresh guidelines affirm NSE’s adherence, unlocking the path to India’s biggest listing in years.
Addressing media, Chauhan beamed: ‘It’s a divine signal, just like the blessings from Lord Venkateswara at Tirupati.’ Such analogies resonate in a nation where tycoons swear by temple visits before major deals.
The stakes are enormous. NSE’s draft valued it at $20-25 billion, with the IPO targeting anchor investors from global funds. Daily, it processes billions in trades, powering Nifty and Bank Nifty benchmarks.
Reactions poured in swiftly. ‘SEBI’s move de-risks the offering significantly,’ noted Deloitte partner Vikram Rao. Equity benchmarks rallied, with NSE-linked stocks gaining ground.
Under Chauhan’s stewardship since 2020, NSE has expanded into derivatives and ESG products. This IPO success could fund further innovations like blockchain trading. With regulatory stars aligning, NSE’s market debut might happen by mid-2025, thrilling millions of demat holders.