NSE Awaits No Objection Certificate From SEBI To Start DRHP Process: Ashish Chauhan

Mumbai: The National Stock Exchange (NSE) is looking ahead to the no objection certificates (NOC) from the capital markets regulator and as soon as it’s won, the inventory change would start the method of submitting its draft crimson herring prospectus (DRHP) for a much-awaited preliminary public providing (IPO), Ashish Kumar Chauhan, Managing Director and CEO of NSE, has mentioned. 

Speaking to IANS right here, Ashish Chauhan mentioned the change has sought a ‘No Objection Certificate’ (NOC) from the Securities and Exchange Board of India (SEBI).

After getting the NOC, “we will prepare our draft red herring prospectus (DRHP) and then, we will send it back to the SEBI. After that, they will take their time to approve it”, mentioned Ashish Chauhan.

Last month, SEBI Chairman Tuhin Kanta Pandey mentioned that the pending problems surrounding the NSE preliminary public providing (IPO) shall be resolved quickly, and the regulator will transfer ahead with the method.

Speaking to the media at the sidelines of an Assocham’s tournament within the nationwide capital, Pandey mentioned: “We will soon go ahead with it. NSE and SEBI are in discussions. They are resolving the issues. I am very hopeful that it will be done soon and we will move forward.”

Asked a couple of explicit timeline, the SEBI leader mentioned he couldn’t decide to a date however added: “All the outstanding issues will be resolved, and we will move forward. Can’t give you the timeline, but I think we should soon be doing it.”

Pandey additionally discussed that SEBI and NSE are running carefully to handle regulatory issues and make sure a easy IPO procedure.

At the similar Assocham tournament, Ashish Chauhan highlighted the sturdy efficiency of India’s capital markets, pronouncing they mirror the wider financial power and resilience of the rustic.

The NSE CEO famous that India has now transform the fourth-largest fairness marketplace on the planet. “India’s market capitalisation has grown more than 120 times since 1994 when NSE began operations. Today, it stands at approximately Rs 440 lakh crore or $5.1 trillion,” he informed the collection.