NSE eyes IPO in 7–8 months, says CEO Ashish Chauhan
Chauhan said that the preparation of the DRHP is expected to take approximately three to four months.
- Jan 31, 2026,
- Updated Jan 31, 2026 1:40 PM IST
The Securities and Exchange Board of India (SEBI) has granted its no-objection certificate (NOC) on Friday to India’s largest stock exchange for the much-anticipated initial public offering (IPO) of the National Stock Exchange (NSE).
With the regulatory green light now in hand, the exchange is setting its sights on a listing timeline of seven to eight months, NSE Managing Director and CEO Ashish Chauhan told CNBC-TV18.
Speaking to CNBC-TV18, Chauhan confirmed the receipt of the NOC and shared that the exchange has already begun working on the Draft Red Herring Prospectus (DRHP). Chauhan said that the preparation of the DRHP is expected to take approximately three to four months. Srinivas Injeti, Chairperson, NSE, welcomed the regulator's decision, terming it a "significant milestone" in the exchange's growth journey.
The subsequent SEBI approval process could take another two to three months, he said. Chauhan further said that the IPO will be a pure Offer for Sale (OFS). The exchange is currently in the process of coordinating with existing shareholders who wish to offload their stakes.
"We are delighted to receive SEBI approval for our IPO," Injeti said. "With SEBI’s approval, we embark on a new chapter of value creation for all our stakeholders. This approval also reinforces confidence in NSE being an integral part of the Indian economy and a beacon of Indian capital markets,” he added. The regulatory hurdle that stalled the IPO for years traces back to lapses flagged by the regulator in the past. One of the SEBI orders in April 2019, which highlighted a ‘lack of due diligence’ and ‘poor corporate governance’ at the exchange. SEBI had barred former managing directors Ravi Narain and Chitra Ramakrishna from holding any position in a stock exchange or listed company for three years. The regulator determined that the exchange and its top management failed to ensure fair dealing and permitted third-party entities, specifically Infotech Financial Services and its directors, to misuse confidential data.
The Securities and Exchange Board of India (SEBI) has granted its no-objection certificate (NOC) on Friday to India’s largest stock exchange for the much-anticipated initial public offering (IPO) of the National Stock Exchange (NSE).
With the regulatory green light now in hand, the exchange is setting its sights on a listing timeline of seven to eight months, NSE Managing Director and CEO Ashish Chauhan told CNBC-TV18.
Speaking to CNBC-TV18, Chauhan confirmed the receipt of the NOC and shared that the exchange has already begun working on the Draft Red Herring Prospectus (DRHP). Chauhan said that the preparation of the DRHP is expected to take approximately three to four months. Srinivas Injeti, Chairperson, NSE, welcomed the regulator's decision, terming it a "significant milestone" in the exchange's growth journey.
The subsequent SEBI approval process could take another two to three months, he said. Chauhan further said that the IPO will be a pure Offer for Sale (OFS). The exchange is currently in the process of coordinating with existing shareholders who wish to offload their stakes.
"We are delighted to receive SEBI approval for our IPO," Injeti said. "With SEBI’s approval, we embark on a new chapter of value creation for all our stakeholders. This approval also reinforces confidence in NSE being an integral part of the Indian economy and a beacon of Indian capital markets,” he added. The regulatory hurdle that stalled the IPO for years traces back to lapses flagged by the regulator in the past. One of the SEBI orders in April 2019, which highlighted a ‘lack of due diligence’ and ‘poor corporate governance’ at the exchange. SEBI had barred former managing directors Ravi Narain and Chitra Ramakrishna from holding any position in a stock exchange or listed company for three years. The regulator determined that the exchange and its top management failed to ensure fair dealing and permitted third-party entities, specifically Infotech Financial Services and its directors, to misuse confidential data.