SEBI Chairman Tuhin Kanta Pandey has signalled that the long-awaited National Stock Exchange (NSE) initial public offering (IPO) may soon move forward, suggesting that the process will “see the light of the day” after years of delay. While Pandey did not specify a timeline, his remarks indicate renewed momentum toward resolving pending regulatory and governance issues surrounding the exchange’s listing.
He made the comments during a recent industry event, where he also emphasised SEBI’s continued focus on transparency, governance, and investor protection across India’s capital markets.
Panel Report Expected by November 10
Pandey revealed that the panel reviewing conflict-of-interest disclosure norms is set to submit its report by November 10, 2025. The committee’s recommendations are expected to help strengthen corporate governance frameworks and enhance accountability within key market institutions.
Mutual Fund Fee Structure and Retail Participation
Addressing concerns about mutual fund expense ratios, Pandey said SEBI’s upcoming framework will aim to balance investor interests with fund viability. The regulator is exploring ways to simplify cost structures, improve transparency, and enhance fairness in how management fees are levied.
He also announced plans to promote small-ticket Systematic Investment Plans (SIPs) to make mutual funds more accessible to first-time investors and encourage broader retail participation in capital markets.
Foreign Portfolio Investors Remain Confident
On the issue of Foreign Portfolio Investor (FPI) activity, Pandey downplayed recent outflows of around US$ 4 billion, noting that they represent a small fraction of total FPI holdings, which exceed US$ 900 billion.
He highlighted that FPI confidence in India remains strong, supported by the country’s robust economic fundamentals. SEBI is also working to digitise and streamline the investment process to make participation easier for global investors.
Crackdown on Misleading Financial Content
Pandey reaffirmed SEBI’s commitment to combating misleading financial advice and unregulated influencers. The regulator is now issuing roughly 5,000 takedown orders per month, with over 1 lakh pieces of violative content removed from major digital platforms including Google, Meta, and X.
This sustained enforcement push underscores SEBI’s determination to ensure market integrity and investor protection in India’s rapidly evolving financial ecosystem.
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