<p>Mumbai: The National Stock Exchange of India (NSE) on Tuesday restarted the process of its long-pending public offer, according to two sources with direct knowledge of the matter, which, if approved, could be one of the largest IPOs in the country.</p><p>The exchange has reapplied for a "no-objection" with Securities and Exchange Board of India (Sebi) for the IPO, the sources said, declining to be named.</p><p>An email query sent to NSE for comment was not answered immediately.</p><p>NSE, the world's largest derivatives exchange by volume, first applied for a listing in 2016, but faced a long-running case over equitable access for its trading members. In April 2019, the regulator fined NSE 11 billion rupees for not ensuring equitable access and returned its listing documents.</p>.NSE hikes ceiling amount payable out of Investor Protection Fund Trust.<p>In June 2022, NSE requested to restart the IPO process, but Sebi, citing pending cases and regulatory issues, did not approve the application, <em>Reuters</em> reported a year ago.</p><p>"As per the initial plans the exchange wants to off-load 10 per cent via public offer. So the IPO size could be around $3.2 billion," said the first of the two people cited above.</p><p>NSE is valued at 2.7 trillion Indian rupees ($32.18 billion) in the "grey market".</p><p>The IPO will offer an exit opportunity to its existing shareholders, including Life Insurance Corporation of India , State Bank of India, Canada Pension Plan Investment Board, a Tiger Global fund and a Morgan Stanley fund.</p><p>For the June quarter, NSE saw a 39 per cent year-on-year growth in consolidated profits at 25.67 billion Indian rupees. NSE's growth has largely been led by India's hot options trading market.</p><p>"Earlier this year NSE management had written to Sebi for settlement of all pending legal and regulatory cases," said the second of the two sources cited earlier in the story.</p>
<p>Mumbai: The National Stock Exchange of India (NSE) on Tuesday restarted the process of its long-pending public offer, according to two sources with direct knowledge of the matter, which, if approved, could be one of the largest IPOs in the country.</p><p>The exchange has reapplied for a "no-objection" with Securities and Exchange Board of India (Sebi) for the IPO, the sources said, declining to be named.</p><p>An email query sent to NSE for comment was not answered immediately.</p><p>NSE, the world's largest derivatives exchange by volume, first applied for a listing in 2016, but faced a long-running case over equitable access for its trading members. In April 2019, the regulator fined NSE 11 billion rupees for not ensuring equitable access and returned its listing documents.</p>.NSE hikes ceiling amount payable out of Investor Protection Fund Trust.<p>In June 2022, NSE requested to restart the IPO process, but Sebi, citing pending cases and regulatory issues, did not approve the application, <em>Reuters</em> reported a year ago.</p><p>"As per the initial plans the exchange wants to off-load 10 per cent via public offer. So the IPO size could be around $3.2 billion," said the first of the two people cited above.</p><p>NSE is valued at 2.7 trillion Indian rupees ($32.18 billion) in the "grey market".</p><p>The IPO will offer an exit opportunity to its existing shareholders, including Life Insurance Corporation of India , State Bank of India, Canada Pension Plan Investment Board, a Tiger Global fund and a Morgan Stanley fund.</p><p>For the June quarter, NSE saw a 39 per cent year-on-year growth in consolidated profits at 25.67 billion Indian rupees. NSE's growth has largely been led by India's hot options trading market.</p><p>"Earlier this year NSE management had written to Sebi for settlement of all pending legal and regulatory cases," said the second of the two sources cited earlier in the story.</p>