No Proposal From NSE to Trade Its Shares on Own Platform, Says SEBI Chief

Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Thursday said the regulator has not received any proposal from the National Stock Exchange (NSE) seeking permission to trade its own shares on the exchange after its listing. He also clarified that such trading is not permitted at present.

Pandey made the remarks while speaking to reporters on the sidelines of the National Bank for Financing Infrastructure and Development (NaBFID) Infrastructure Conclave 2026. His comments came amid discussions over whether the NSE could eventually seek regulatory approval to allow its shares to be traded on its own platform following its initial public offering.

The NSE has begun its much-awaited IPO, with the public issue opening for subscription on September 17 and closing on September 21. The ₹22,569-crore issue is entirely an offer for sale, under which existing shareholders are selling 12.64 crore equity shares. The exchange itself will not receive funds from the issue.

The IPO has a price band of ₹1,700 to ₹1,785 per share and is expected to be listed on September 24. The offering values NSE at about $46 billion, according to Reuters. The issue comes as the exchange prepares to transition into a publicly traded company amid changes in the derivatives market and regulatory measures affecting options trading. The question of NSE trading on its own platform gained attention ahead of the IPO. Earlier, NSE Managing Director and CEO Ashishkumar Chauhan had said that the exchange had not applied to SEBI for permission to trade its shares on its own platform.

Pandey’s latest comments indicate that no formal regulatory process on such a request is currently underway. The SEBI chief had also previously said that the possibility of allowing NSE shares to trade on its own platform would require careful assessment. Meanwhile, the NSE IPO is being closely watched as one of India’s largest public offerings. The issue is scheduled to remain open until September 21, with the exchange expected to make its stock-market debut shortly thereafter.