SEBI Chairperson Tuhin Kanta Pandey
| Photo Credit:
PTI

The Securities and Exchange Board of India (SEBI) will not let the interest of the general public be compromised over the commercial interest of market infrastructure institutions, said chairman Tuhin Kanta Pandey on Thursday in the context of National Stock Exchange’s (NSE) initial public offering.

Speaking to media on the sidelines of CII’s corporate governance summit, Pandey said, “We will not allow commercial interest to take over the general public interest, and it is for the regulator to ensure that.”

“Now, if you have something going on between NSE and BSE, the regulator will step in and then bring an order,” Pandey added.

He explained that India has adopted a commercial or for-profit model for market institutions which can be tempered with and needs to be regulated. Whenever the model conflicts with public interest or becomes monopolistic, the regulator will come in, he said.

With regards to clearance of NSE’s IPO plans by SEBI, Pandey said some issues are being discussed through an internal committee and being resolved with NSE “as soon as possible.”

Some of these issues include the diversification of clearing corporations from stock exchanges, salaries of NSE’s key managerial personnel, pending litigations, and technological concerns.

The stock exchange has recently sought the regulator’s no object certificate again to proceed with its IPO, with the plans being in limbo for over right years now.

Published on April 17, 2025