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The Securities and Exchange Board of India (SEBI) made it clear that it has not received any proposal from the National Stock Exchange seeking permission to trade its own shares post-listing.
SEBI Chairman Tuhin Kanta Pandey clarified this point on Thursday amid interest in the eagerly awaited NSE IPO, which opened for subscription on September 17.
Pandey told reporters on the sidelines of the National Bank for Financing Infrastructure and Development (NaBFID) Infrastructure Conclave 2026 that SEBI had not received such a request from NSE.
“No, there is no such letter, and there is no such requirement,” Pandey said. He added that such trading is not allowed at present.
The clarification comes as NSE begins its three-day IPO subscription period. The issue will remain open until September 21.
Also Read: NSE IPO Opens for Subscription: Check Price, GMP, Reviews, Allotment Date
The NSE IPO is worth Rs. 22,569 crore and consists entirely of an offer-for-sale (OFS) of 12.64 crore equity shares held by existing shareholders.
The price band for the issue is fixed at Rs. 1,700-1,785 per share. Since the IPO is entirely an OFS, NSE will not receive any proceeds from the share sale. After deducting issue expenses, the proceeds will go to the shareholders selling their shares.
The shares are expected to list on the BSE on September 24.
NSE’s public offering comes after a long wait for the country’s largest stock exchange to enter the listed market. The exchange is India’s leading platform by cash-market and equity-derivatives turnover from FY01 to FY26.
As of June 2026, NSE had 132.4 million unique registered investors, 1,328 trading members and 3,005 listed entities, while the market capitalization of companies listed on the exchange stood at about Rs. 474.1 trillion.
During the interaction, Pandey also addressed concerns raised by some brokers and asset management companies over the new UPI Merchant Discount Rate (MDR).
“I think there are some important issues there. We will certainly look into it and see how we can ease them,” he said.
The government recently introduced a 0.4 percent Merchant Discount Rate (MDR) on eligible UPI merchant transactions above Rs. 2,000, capped at Rs. 300 for transactions of Rs. 75,000 and above. The move marks a shift from the zero-MDR framework for UPI merchant transactions that had been in place since January 2020.
