BENGALURU (Reuters) -National Stock Exchange of India (NSE) <NSEI.NS> said on Tuesday it is awaiting the markets regulator’s approval for its settlement applications in cases linked to unfair trading access.
NSE said it filed for settlement with the Securities and Exchange Board of India (SEBI) on June 20.
Last month, Reuters reported, citing sources that NSE had offered to pay the SEBI 13.88 billion rupees ($160 million) to settle a legal dispute so it can proceed with a long-delayed initial public offering.
NSE did not disclose on Tuesday the amount it has offered for the settlement of the cases.
India’s biggest bourse and the world’s most active derivatives exchange has been embroiled in litigation with the SEBI since 2019, when it was fined 11 billion rupees for failing to provide equitable access to all its trading members.
The cash-rich Mumbai-headquartered NSE has been trying to list since 2016 to enable some of its biggest investors to exit. But has been prevented by the regulator’s investigations.
Its main domestic rival, BSE Ltd, listed in 2017.
(Reporting by Jayshree P Upadhyay and Nishit Navin in Bengaluru; Editing by Nivedita Bhattacharjee)
