Mon Dec 16 20:09:38 UTC 2024: ## Delhi High Court Petition Demands NSE IPO Approval

**New Delhi, Dec 10, 2024** – A group of investors, led by the People Activism Forum, filed a petition with the Delhi High Court today, urging the Securities and Exchange Board of India (SEBI) to approve the initial public offering (IPO) of the National Stock Exchange (NSE).

The petition alleges that SEBI has unreasonably delayed a decision on the NSE’s application for a no-objection certificate (NOC), which is necessary for the IPO to proceed. Despite resubmitting the application on August 27th, the NSE has yet to receive a response, or any valid explanation for the delay, three months later.

Investors argue that SEBI’s inaction is depriving the public of the opportunity to invest in India’s largest stock exchange. The high demand for NSE shares in the unlisted market, where prices have reportedly risen from ₹900 to ₹1,800 this year partly due to IPO anticipation, further underscores this point. The petition seeks court intervention to compel SEBI to provide a reasoned decision on the NSE’s IPO application.

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