“Possibly within this month”: SEBI Chief says board to greenlight NSE IPO very soon

Indias capital markets are getting close to something that investors have been talking about for a time. The National Stock Exchange of India or NSE for short might actually become a listed company. The head of SEBI, which is the organization that regulates the stock market in India recently made some comments. On January 10 2026 SEBI Chairman Tuhin Kanta Pandey said that they are almost ready to give the National Stock Exchange of India the okay to move forward with its public offering or IPO. He said they are, at an advanced stage and the National Stock Exchange of India could get the necessary certificate this month. The National Stock Exchange of India has been waiting for this for a time.

That one line is important. It might happen this month. This is a deal because it means the timeline is real now. The National Stock Exchange Initial Public Offering has been talked about for years. It has been delayed many times. The delays were because of problems, with how the exchange’s run actions taken by regulators and the need to fix old issues with the National Stock Exchange. The National Stock Exchange Initial Public Offering has been almost ready to go for a time but these problems kept holding it back. The Notice Of Commencement is not the Initial Public Offering itself. The Notice Of Commencement is a very important step. The Notice Of Commencement basically tells the market that the regulator is okay with letting the National Stock Exchange proceed to the step. This step usually involves updating the documents moving forward with the filings and starting a process that the National Stock Exchange originally began a time ago. The Notice Of Commencement is a part of this process, for the National Stock Exchange.

What exactly did SEBI’s chief say—and why is it important?

Pandey said that the Securities and Exchange Board of India is almost ready to give the no objection certificate, for the National Stock Exchanges public offering. The National Stock Exchanges initial public offering is something that people are waiting for. Pandey said this might happen by January 2026 for the National Stock Exchanges public offering.

The way this is worded is very careful. People who make rules usually do not tell us the dates when they will say yes or no to something especially when it is a complicated and sensitive issue. So when the SEBI chair says something in public about when this might happen. They say it will be this month. The market thinks this is a hint that the people, in charge have almost finished looking at everything and making their decisions. The market thinks that the SEBI is almost done with its review and that the board is also finishing up its work. This is why the market is paying attention to what the SEBI chair is saying about the SEBI and its plans.

Reuters also said that the Securities and Exchange Board of India is going to give a No Objection Certificate this month. This will clear a problem and let the National Stock Exchange move ahead with getting ready for its initial public offering. The National Stock Exchange will be able to do all the work it needs to do like making its prospectus to get ready, for the public offering of the National Stock Exchange.

So the National Stock Exchange or NSE for short really needs this thing called a Network Operations Center or NOC.

The NSE needs a NOC because it helps the NSE to keep an eye on everything that is happening on the NSE.

What does the NOC unlock for the NSE?

The NOC unlocks a lot of things for the NSE it helps the NSE to make sure that everything is running smoothly and that there are no problems.

The NOC helps the NSE to find problems before they become issues so the NSE can fix them quickly.

This helps the NSE to keep peoples trust. That is very important for the NSE.

The NOC is like a security system, for the NSE it keeps the NSE safe and secure. That is what the NSE needs to keep running.

In India, when the company that wants to be listed on the stock market is an institution that helps the market work, like a stock exchange where people buy and sell things and find out how much things are worth and make sure everything runs smoothly it is harder to get permission from the government to list. The government looks at this kind of company carefully before saying yes. This is different from when a regular company wants to list on the stock market. The stock exchange company has to go through steps to get permission because it is so important, to the market.

The No Objection Certificate is basically the regulators official okay that all the big problems, like the ones with governance and compliance have been fixed enough for the listing process to move forward. The No Objection Certificate is what the regulator gives when they are happy that everything is, in order. The regulator needs to see that the No Objection Certificate issues are resolved before they let the listing process go on.

When the National Stock Exchange gets that No Objection Certificate it becomes a lot easier, for the National Stock Exchange to:

Restart/advance the formal IPO process, including updated documentation and disclosures.

Engage more concretely with bankers, lawyers, auditors, and other intermediaries to move toward filing and marketing steps.

We need to make things clear, to the people who already own parts of our company. This includes institutions, important investors and other shareholders who have been waiting for a long time to be able to easily sell their shares on the public market.

Help the market price the exchange transparently, rather than rely on informal/opaque pre-IPO transactions and rumor-driven valuation chatter.

The reason the Notice Of Completion is so important is that it is, like a green light. This means that even though the actual listing might still take some time after the Notice Of Completion the Notice Of Completion is a crucial step. The Notice Of Completion is what gives the go ahead so to speak.

The long road to getting a company on the stock market is really tough, for National Stock Exchange or NSE. National Stock Exchange or NSE wanted to do a public offering or IPO.. National Stock Exchange or NSE did not get to do it for a very long time.

National Stock Exchange or NSE had to wait for years to do its public offering or IPO. This is the story of National Stock Exchange or NSE and its initial public offering or IPO. National Stock Exchange or NSE had a lot of problems.

These problems stopped National Stock Exchange or NSE from doing its public offering or IPO for a very long time.

The National Stock Exchange or NSE has a well known initial public offering story in the Indian market. This NSE story is famous because the NSE initial public offering has taken a time to happen and it has gone through many ups and downs in the market. The NSE initial public offering story is famous, in market circles because the NSE initial public offering process has stretched across multiple market cycles.

The company made its attempt to go public in 2016. National Stock Exchange filed a document called Draft Red Herring Prospectus in December 2016.. The National Stock Exchange did not get listed on the stock market quickly after that.

The listing of companies was supposed to be a deal but people were more worried about the rules and how things are run. There were some problems with how things were being done, like the co-location controversy. This was a big issue that caught the attention of the SEBI, which is like a watchdog for the market. It made people wonder if everything was fair and if everyone had access to the market. The co-location controversy was a concern and it overshadowed the listing push. The SEBI had to take a look and it raised a lot of questions, about fairness and market access especially when it came to the co-location controversy.

I am going to try. The National Stock Exchange reapplied to the Securities and Exchange Board of India in August 2024 for the no objection certificate to proceed with the National Stock Exchange plans. The National Stock Exchange really needs this no objection certificate, from the Securities and Exchange Board of India.

The Financial Express said that the National Stock Exchange paid a lot of money to the Securities and Exchange Board of India. This happened in October 2024. The National Stock Exchange paid 643 crore rupees to the Securities and Exchange Board of India. The National Stock Exchange had to pay this money because of a problem, with its Trading Access Point Architecture and Network Connectivity. The National Stock Exchange settled this case by paying the money.

Reuters also said that there is a standing problem, with the NSE. This problem started because of a penalty that the NSE got in 2019. The NSE is trying to fix these issues by talking to the people involved and trying to come to some kind of agreement. The NSE wants to settle this problem.

If you take a step back and look at the picture it is easy to see what is going on. The people in charge wanted the exchange to show them that they had fixed the problems made their rules and checks stronger and improved the way they make decisions. They had to do all this before they could list on the market and have everyone watching what the NSE is doing all the time. The NSE has to be ready, for this kind of attention.

The thing that really bothered people was the fact that some things were in the place, which is called “co-location” and also the problems they had getting to these things. The “co-location” and access issues were a big deal.

People got very upset about the “co-location” and access issues. The main reason was that “co-location”. Access issues made it very hard for them to do their work. They had to deal with “co-location”. Access issues every day.

The “co-location” and access issues were very important because they affected how people worked with “co-location” and access. The problems with “co-location” and access issues were not easy to solve. People had to think about the “co-location” and access issues.

The “co-location” and access issues were a problem that people had to face. They had to find a way to deal with the “co-location”. Access issues. The “co-location” and access issues were not going away on their own. People had to do something, about the “co-location” and access issues.

For a normal company, an IPO is about business prospects, profits, and growth narratives. For an exchange, the credibility story is different: fair access, equal treatment, conflict management, and system integrity are existential.

The main problem with the NSEs co- controversy is that some people may have gotten faster access to market data or been able to put in orders more quickly. This could give them an advantage when trading, especially when using high-frequency strategies. The NSEs co-location controversy is a deal because it affects how fair the market is and whether investors trust it. The NSEs co-location controversy is really, about making sure everyone has a chance to trade.

For the Securities and Exchange Board of India clearing the National Stock Exchange for a public offering is not just about whether the National Stock Exchange is a strong company. The National Stock Exchange is clearly a company. It is also about whether the National Stock Exchange has shown that it has systems in place. These systems are, about technology and governance and supervising things. The Securities and Exchange Board of India wants to make sure the National Stock Exchange can prevent things from happening again. The National Stock Exchange needs to demonstrate that it has controls to stop these episodes from happening again.

That is why the journey took years. The bar is naturally higher, for market infrastructure.

What is different now? The idea of cleaning things up

The chairman of SEBI as quoted by Financial Express said that the stock exchange has taken steps to fix the problems. The chairman of SEBI talked about the steps the stock exchange has taken to make things right.

changes in senior management

board restructuring

stronger compliance frameworks

settlement of past regulatory issues

This is what companies usually do to make regulators happy: they say they want to make things better they change the way they are run they try to settle arguments and they show that they are serious about following the rules. They really want to show that they are all about compliance. Companies take this path to make sure they are doing things right and that the regulators are okay, with what they’re doing.

So it seems like the National Stock Exchange is saying that it is ready for a public offering now. The National Stock Exchange is ready for a public offering not just because of its money but also because of the way it is organized as an institution. The National Stock Exchange appears to be making a case that it is now ready, for an initial public offering.

An interesting extra: SEBI’s comments on digital scams and takedowns

The Financial Express report also has some things to say from Pandey about what SEBI is doing to stop bad things from happening online. Things like scams and people using SEBIs name and logo, in a wrong way.

He said the Securities and Exchange Board of India is:

monitoring social media and asking platforms to take down violating content,

with over 100,000 takedowns reported in recent months,

coordinating with states and police leadership to appoint nodal officers and conduct training.

When you look at this at first it does not seem to have anything to do with the NSE IPO.. It is actually part of a bigger idea. The NSE IPO is about people trusting the markets. This trust is not about the technology used by the exchange and the rules that are in place. The NSE IPO is also about making sure investors are protected stopping information from spreading and preventing people from cheating. The NSE IPO is really, about all these things together.

The Securities and Exchange Board of India is getting ready to let Indias exchange list. It also makes sense that the Securities and Exchange Board of India wants to show that it is working hard to make the Securities and Exchange Board of India stronger, around the markets of India. The Securities and Exchange Board of India wants people to trust the markets of India.

The National Stock Exchange or NSE is thinking about going public with an Initial Public Offering or IPO. This is a deal for the National Stock Exchange and for India.

So what does the National Stock Exchange IPO mean for the markets? The National Stock Exchange is an important part of the Indian markets. If the National Stock Exchange goes public with an IPO it could bring in a lot of money for the National Stock Exchange.

This could be good for the markets because it shows that big companies like the National Stock Exchange are confident in the Indian economy. The National Stock Exchange IPO could also make it easier for other Indian companies to go public with their IPOs.

The National Stock Exchange has a role, in the Indian markets so its IPO is a big deal. We will have to wait and see what happens with the National Stock Exchange IPO and how it affects the markets.

If the National Stock Exchange lists the impact will go beyond one big initial public offering headline. The National Stock Exchange listing could really change how investors think about the National Stock Exchange and market infrastructure as something they can invest in. This is because the National Stock Exchange is a part of market infrastructure.

1) Price discovery for a critical institution

A company that is listed on the NSE has a market value that everyone can see. This company also shares its results with the public and analysts follow it. The company is always talking to its shareholders, which helps the company be more responsible and open with its shareholders. This can be a thing because it helps the company be more accountable and transparent. But it also means the company is, under a lot of scrutiny. The NSE listed company has to be careful because people are always watching what the NSE listed company is doing.

2) Liquidity event for existing shareholders

The National Stock Exchange has a lot of shareholders who have been waiting for a time to get their money out. If the National Stock Exchange is listed on the stock market the shareholders of the National Stock Exchange will be able to sell their shares in an organized way over time. This is better than relying on sales that are not very organized. The shareholders of the National Stock Exchange will have to wait for a period of time before they can sell their shares and they will also have to check the market conditions before making any decisions, about the National Stock Exchange.

3) Benchmark for other market infrastructure listings

India already has companies that help with buying and selling on the market like places where people trade and stores where people keep their investments. If the National Stock Exchange gets listed it will be a deal for this area of business and it could change how people make rules for companies in the future. The National Stock Exchange listing will show that this sector is important and it will have an impact, on the National Stock Exchange sector.

4) Retail interest and brand visibility

The National Stock Exchange is a name that people know well if they follow the markets. If the National Stock Exchange is listed on the market it could get the attention of investors who want to own a part of the National Stock Exchange itself.. These investors still have to think carefully about how much the National Stock Exchange is worth what risks are involved and how well the National Stock Exchange is likely to do in the future.

Risks and watch-outs even after an NOC

Even if the Securities and Exchange Board of India issues the No Objection Certificate, in January 2026 that does not automatically mean the Initial Public Offering is going to happen soon. There are still things that need to be taken care of with the Initial Public Offering:

The National Stock Exchange or NSE filed its Draft Red Herring Prospectus, which’s the DRHP back in 2016. Since then the market and the rules that govern it have changed a lot. The National Stock Exchange needs to update the information it gives to people and reorganize the documents, for the offer. This process can be time consuming for the National Stock Exchange.

When it comes to market windows the timing of an Initial Public Offering or IPO really depends on how people feel about the market how much the prices are moving up and down and if there are IPOs happening at the same time. This is because IPO timing is very important and it can be affected by the sentiment of the people the volatility of the market and the competing supply of IPOs. The IPO timing is something that people think about carefully. It is influenced by the market windows and the overall situation, with other IPOs.

So when we talk about sequencing there are some extra steps that the regulatory sequencing needs to go through. The regulatory sequencing will need approvals. The regulatory sequencing also has to go through some exchange processes.. The regulatory sequencing is also subject, to internal governance steps. All these things are still needed for the sequencing.

When it comes to valuation sensitivity people really pay attention to initial public offerings. These are often called IPOs. If the price of an IPO seems too high it can become a big deal especially if it is a main bank or financial institution that people care about. The valuation of these high-profile IPOs can be very sensitive because they are under a lot of scrutiny, from the public and politicians.

So, the NOC is a green signal—but not necessarily the final lap.

Why this matters right now: the “momentum” signal

The main thing to remember from ” within this month” is not the actual date. What is important is that the Securities and Exchange Board of India or SEBI for short seems to be ready to finish a story that has been going on for a time. This will happen if SEBI is happy with the steps the National Stock Exchange or NSE is taking to fix things and follow the rules. The NSE has to show SEBI that they are serious about making things right and following the rules from, on. SEBI and the NSE are the players here and SEBIs decision will depend on the NSEs actions.

Reuters said the NOC is an important step. This step will help the NSE to start the process of becoming a traded company. The NSE will begin its Initial Public Offering process because of the NOC. The NOC is a deal, for the NSE and its IPO.

The Economic Times also said that the Securities and Exchange Board of India is almost ready to give the No Objection Certificate and that they will probably approve it this month. The Economic Times reported this. It seems that the Securities and Exchange Board of India is really close, to giving the No Objection Certificate.

When a lot of sources say the same thing on the same day it is not just rumors about the market. It becomes more, about what the regulators have planned for the timetable of the regulatory timetable.

Here are some things you should watch next. This is a list to help you decide.

* Look for something you like

You should watch something that you really want to see.

What you should watch next is a choice.

You should think about what you like and watch that.

Some people like watching movies.

You should watch movies if you like them.

What you should watch next is up to you.

You should make a list of things you want to watch.

Then you should watch the things on your list.

What you should watch next is, on your list.

If you are following this story and looking at it like a timeline there are some things that will happen next. These are the big things to look out for in the story of this event. The story will probably reach these milestones soon. These milestones are what you should watch for next, in the story.

The Securities and Exchange Board of India board, which is a regulator has issued a No Objection Certificate. This is the event that Pandey was talking about this month. The Securities and Exchange Board of India regulator has given the No Objection Certificate.

The National Stock Exchange or merchant bankers give us updates, on what’s happening. They send letters and emails to keep everyone informed. They also tell us who is doing what and in what order. The National Stock Exchange or merchant bankers have people who help them with this. They make sure everything runs smoothly.

The steps to file for a public offering or IPO on the National Stock Exchange, which is also known as the NSE are going to be fresh and updated. This is because the NSE is going to decide how the IPO process will work when it is reactivated. The National Stock Exchange will choose how to structure the reactivated IPO process. That will determine what the fresh and updated filing steps, for the IPO will be.

When the documentation for the Initial Public Offering is available to everyone and we have an understanding of the market, with some clearer numbers we can start discussing the Initial Public Offering window and the pricing of the Initial Public Offering.

The thing is, until we get the NOC everything is still what we expect to happen.. Once the NOC gets here the IPO is just something that needs to be done and we have to figure out when to do it.

The bigger picture: why NSE listing is symbolically huge

Indias markets have really taken off when it comes to people taking part the things you can buy and sell and how much the rest of the world is paying attention. The National Stock Exchange or NSE for short is a deal in India so when it lists on the public market it means something. The NSE is like a leader in Indias markets so this move is like a sign. Indias markets and the NSE are getting a lot of attention. This is a major step, for the NSE.

It seems that the people in charge have made changes and taken enough actions to make sure the exchange is okay to be looked at by the public. The governance reforms and regulatory actions have gotten to the point where the exchange’s ready, for public scrutiny. The exchange is now ready to be examined by the public because of these governance reforms and regulatory actions.

This can make Indias story about having a transparent and reliable system for investing in the stock market even stronger. Indias story, about investable capital market infrastructure will become more believable.

and it may set a new template for how market institutions balance commercial success with systemic responsibility.