NSE Refutes Claims of Government Intervention in IPO Process

The National Stock Exchange (NSE) has firmly refuted media reports suggesting that it sought government intervention concerning its initial public offering (IPO). The exchange clarified that it has not engaged in any correspondence with the Government of India on this matter in the past 30 months.

According to the NSE's social media statements, the article published by Reuters claiming governmental involvement in the IPO process was erroneous. The much-anticipated IPO is currently being reviewed by the Securities and Exchange Board of India (SEBI), with discussions ongoing to resolve several issues flagged by the regulator.

SEBI has highlighted concerns such as excessive compensation for key managerial personnel and issues related to technology and ownership within the clearing corporation. While SEBI has recently settled proceedings against the NSE in the co-location case, these developments are seen as clearing the hurdles for the IPO initially proposed in late 2016.

(With inputs from agencies.)