Archive · 19 Jan 2026
NSE IPO Revival Hinges on Supreme Court Approval
The National Stock Exchange (NSE) in India wants to go public with an IPO, but there are some legal issues that need to be sorted out first.
The NSE has agreed to pay a fine to the market regulator, SEBI, to settle these issues.
However, because the case is also in the Supreme Court, SEBI needs to get the court's approval for the settlement.
Once the Supreme Court approves, the NSE can move forward with its IPO plans.
This process might take a few months, but it's seen as the best way to resolve the problems and allow the NSE to list on the stock market.
SEBI has given in-principle approval to NSE's settlement proposal for ₹1,388 crore to resolve co-location and dark fibre disputes.
The settlement is a key step towards reviving NSE's long-delayed IPO, but SEBI needs Supreme Court approval to finalize it.
SEBI must file an affidavit and seek permission from the Supreme Court to withdraw or dispose of the appeal related to the settlement.
Legal experts emphasize the need for judicial sanction to ensure procedural finality and eliminate any residual doubt affecting investor interests.
Once the Supreme Court approves the settlement, NSE can refile its draft red herring prospectus (DRHP) and proceed with the IPO process.
- Who
- National Stock Exchange (NSE), Securities and Exchange Board of India (SEBI), Supreme Court of India
- What
- SEBI's approval of NSE's settlement proposal for co-location and dark fibre cases, requiring Supreme Court approval for NSE's IPO revival
- When
- January 19, 2026
- Where
- India
- Why
- To resolve long-running disputes and remove regulatory overhang for NSE's IPO prospects
- Settlement Amount
- ₹1,388 crore
- Regulator
- SEBI
- Pending Cases
- Co-location and dark fibre disputes
- Legal Status
- Sub judice
- Expected Process
- SEBI to seek Supreme Court approval for settlement
- IPO NOC Timeline
- Unconditional NOC pending Supreme Court approval
- Next Steps for NSE
- Refile DRHP, SEBI disclosure review, listing approval, book-building, listing