The National Stock Exchange of India (NSE) has taken a major step toward going public, as its board approved plans for an initial public offering (IPO) and formed a special IPO committee to oversee the process.
The IPO will be conducted via an offer-for-sale (OFS) route, in which existing shareholders sell their stake rather than the exchange issuing new shares. This approach helps determine NSE’s market valuation while retaining its overall ownership structure.
Former LIC Managing Director Tablesh Pandey has been appointed chairman of the IPO committee, bringing decades of experience in financial management, corporate governance, and regulatory compliance. Pandey is widely respected for his leadership at LIC, India’s largest insurance company, where he successfully steered growth, improved operational efficiency, and strengthened investor trust.
The IPO committee will include NSE’s Managing Director & CEO and public interest directors, ensuring strategic oversight of key steps such as finalizing the issue size, appointing merchant bankers, and preparing the Draft Red Herring Prospectus (DRHP).
A significant milestone for the exchange was the no-objection certificate (NOC) from SEBI, which clears a major regulatory hurdle for the listing. NSE aims to file the DRHP by end of March or early April, subject to audited financial statements and regulatory approvals.
The IPO is expected to unlock shareholder value and increase participation in India’s premier stock exchange. Analysts believe that with Pandey leading the committee, the process will benefit from strong governance, credibility, and smooth execution.
Pandey’s appointment is seen as a signal of the NSE’s commitment to transparency and regulatory compliance, given his proven track record in managing large public-sector financial institutions. Experts expect the IPO to be closely watched by both retail and institutional investors in India.
With the IPO committee now in place under Pandey’s guidance, NSE is on track to achieve a long-awaited listing, marking a major development in India’s capital markets.
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