The Delhi High Court has dismissed a petition challenging the no-objection certificate (NOC) granted by the Securities and Exchange Board of India (SEBI) for the National Stock Exchange’s proposed initial public offering (IPO).
The court observed that the plea appeared to be aimed at “interdicting” or obstructing the IPO process and found no merit in halting the regulatory approval granted by SEBI.
The ruling clears a key legal hurdle for NSE’s long-pending listing plans, which have faced multiple delays and regulatory challenges since 2016. With the dismissal of the petition, the exchange’s IPO process is expected to move forward, subject to other regulatory and procedural requirements.
The development is seen as a significant boost for the NSE, which has been working to revive its public listing plans after years of uncertainty.
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