Tag: NSE

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Corporate

NSE launches Electronic Gold Receipts trading

The National Stock Exchange (NSE) has officially launched trading in Electronic Gold Receipts (EGRs), marking a new step in India’s efforts to modernise gold investing and bring more transparency to the bullion market.

EGRs are digital instruments that represent ownership of physical gold stored securely in SEBI-approved vaults. Investors can buy, sell, and hold them on the exchange in the same way they trade shares, without needing to physically store gold.

The new system aims to make gold investment more transparent, regulated, and accessible. Each EGR is backed by a fixed quantity of gold that meets strict purity standards, helping ensure quality and reducing concerns related to fake or unverified gold.

Trading takes place on the NSE platform during market hours, with prices determined by market demand and supply. Investors also get the option to convert their digital holdings into physical gold, subject to exchange rules.

According to exchange details, EGRs are held in demat form and offer benefits such as easier trading, better price discovery, and reduced storage and security risks compared to physical gold. The system is designed to bring uniform pricing across the country and integrate gold more closely with financial markets.

The launch is part of a broader effort to formalise India’s large but fragmented gold market. India is one of the world’s biggest consumers of gold, but a significant portion of trading still happens through physical and unorganised channels.

Market participants, including retail investors, jewellers, bullion traders and refineries, are expected to take part in the new segment. While the product offers improved transparency and convenience, experts note that liquidity and adoption will take time to build as investors become more familiar with the instrument.

The NSE’s move is seen as an important step toward making gold trading more structured and aligned with modern financial systems, similar to equities and exchange-traded funds.

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1 Minute-Read

NSE posts 8% rise in Q4 profit to ₹2,871 cr

The National Stock Exchange (NSE) reported an 8% year-on-year rise in consolidated net profit to ₹2,871 crore for the March quarter, compared to ₹2,650 crore a year earlier. Revenue from operations jumped 32% to ₹4,968 crore, driven by higher trading volumes in equity and derivatives segments.

Transaction charges remained the biggest revenue source, supported by strong market activity. The board has recommended a dividend of ₹35 per share for FY26, subject to approval.

The results highlight steady growth in profitability and trading activity, reflecting continued investor participation in India’s capital markets.

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Beyond

NSE launches electronic gold receipts system

The National Stock Exchange (NSE) has introduced Electronic Gold Receipts (EGRs) to modernise India’s gold market and bring more transparency to trading.

Under the system, physical gold stored in SEBI-approved vaults is converted into electronic receipts. Each EGR represents ownership of a fixed quantity of gold and is fully backed by real, stored metal. These receipts can be bought and sold on the exchange, similar to shares.

NSE says the aim is to shift gold trading from a largely physical and unorganised system to a regulated digital platform. This will improve price discovery, reduce dependence on physical handling, and make transactions more efficient.

Investors will also be able to convert EGRs back into physical gold when needed. This flexibility is expected to attract both retail and institutional participants, including jewellers and traders.

The exchange demonstrated the system by converting a 1 kg gold bar into an electronic receipt. Officials said the move will help standardise gold trading, improve liquidity, and ensure better transparency in pricing and purity.

India has a large gold market, but most trading has traditionally been physical and outside formal financial systems. With EGRs, regulators aim to bring more of this trade into a structured exchange-based framework.

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Corporate

NSE appoints 20 banks, 8 law Firms for mega IPO

The National Stock Exchange of India (NSE) has taken a key step toward its highly anticipated initial public offering (IPO) by appointing 20 merchant banks and eight law firms to manage the process. This marks one of the largest advisory rosters for an Indian IPO, highlighting the scale of the listing.

The selected merchant bankers include India’s leading firms such as Kotak Mahindra Capital, ICICI Securities, Axis Capital, JM Financial, SBI Capital Markets, IIFL Capital Services, and Nuvama Wealth Management. International banks like Morgan Stanley, Citigroup, and J.P. Morgan will also assist in managing the IPO.

On the legal side, the NSE has engaged top Indian law firms including Cyril Amarchand Mangaldas, Shardul Amarchand Mangaldas, AZB & Partners, Khaitan & Co, Trilegal, and S&R Associates. Global legal advisors such as Latham & Watkins and Sidley Austin will provide additional support.

The IPO is expected to be primarily an offer-for-sale (OFS), allowing existing shareholders to sell a portion of their holdings rather than raising significant new capital. This approach reflects the NSE’s strategy to let current investors unlock value while listing on the public market.

The exchange has been preparing for a public listing for several years, with regulatory approvals and compliance reviews causing delays. The Securities and Exchange Board of India (SEBI) granted final clearance for the IPO earlier this year, enabling the NSE to move forward with its plans.

With the advisory teams in place, the NSE is set to begin drafting its detailed offer documents, a process that may take several months. Market observers note that the listing could become one of the most closely watched IPOs in India, given the NSE’s critical role in the country’s capital markets and the scale of its operations.

The move has generated optimism among investors, with NSE’s unlisted shares remaining stable amid broader market volatility. The participation of leading domestic and international banks and law firms signals the IPO’s potential to attract significant interest from institutional and retail investors alike.

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Leaders

Tablesh Pandey to lead NSE IPO committee plan

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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Corporate

NSE receives SEBI approval for IPO launch

The National Stock Exchange of India (NSE) has finally received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO), ending almost ten years of delays. This clearance allows the exchange to submit its draft prospectus and move toward listing, a significant milestone for India’s capital markets.

NSE first filed for an IPO in 2016, but its plans were stalled amid regulatory scrutiny and legal challenges. The exchange faced allegations regarding co-location facilities and dark fibre services, which reportedly gave select brokers faster access to trading data. Over the years, these issues delayed NSE’s path to listing, even as other Indian exchanges, like BSE, successfully went public.

The recent SEBI approval follows settlement applications submitted by NSE to resolve these long-standing cases. Officials from the regulator had indicated that the NOC would likely be granted after these matters were addressed. With the nod now in hand, NSE is expected to submit the IPO draft prospectus by end of March 2026, with the listing process projected to take six to eight months, potentially making NSE a publicly listed company by late 2026.

Unlike conventional IPOs, NSE’s offering is expected to be an offer-for-sale (OFS). Existing shareholders, including LIC, SBI, and other financial institutions, will sell part of their holdings to the public, meaning the exchange itself will not raise fresh capital from the IPO. This approach allows existing investors to realize part of their gains while introducing NSE shares to retail and institutional investors.

NSE chairperson Srinivas Injeti described SEBI’s approval as “a significant milestone in our growth journey,” highlighting the exchange’s commitment to transparency and market development. Market experts say the IPO will not only enhance NSE’s public profile but also boost investor confidence in India’s capital markets.

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