In response to a writ petition seeking to expedite NSE's initial public offering (IPO), Sebi clarified the delay lies with the NSE, not the regulator.
Sebi sent queries to the NSE, which were addressed by the exchange in May this year, during which the NSE didn't "expressly request" the NOC for listing its shares.
In 2019, the regulator returned NSE's draft red herring prospectus (DRHP), which was filed in December 2016. It was advised to make a fresh filing upon resolution of the investigation in the colocation matter. In June 2022, NSE had sought Sebi's approval for the listing.
A month later, Sebi responded with observations on issues around technology, governance, surveillance, and trading along with lapses as a first-level regulator, inspection, and off-site monitoring.
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