New Delhi, Jan 31 : National Stock Exchange (NSE) Managing Director and Chief Executive Officer Ashish Chauhan said on Saturday that it will take around three to four months to prepare the draft Red Herring Prospectus (DRHP), which is a key document required for launching the IPO.

Speaking to IANS on the sideline of an event here, Chauhan thanked SEBI for clearing the way after nearly a decade of delay.

â??After 10 years, SEBI has agreed to start the IPO process. We thank SEBI for this,â?? he stated.

He said that along with preparing the DRHP, NSE will also work in parallel on the offer for sale (OFS) part of the IPO.

â??It will take 3-4 months for the draft of Red Herring Prospectus to be made,â?? Chauhan told IANS.

The exchange currently has around 1.91 lakh existing shareholders, and those who are eligible and willing to sell their shares through OFS will be able to participate in the process.

â??In parallel, there are 191,000 existing shareholders. Those who are eligible and want to sell their shares in OFS, we will collect those shares in parallel for offer for sale,'' he mentioned.

The approval from SEBI marks a major milestone for NSE, whose IPO plans had been stuck for more than 10 years due to regulatory concerns, including issues linked to governance lapses and the co-location case.

With the regulatorâ??s green signal now in place, NSE will move ahead with finalising the structure and timeline of its public issue.

Earlier, NSE Chairperson Srinivas Injeti had described SEBIâ??s approval as a significant step in the exchangeâ??s growth journey.

He said the move opens a new chapter of value creation for stakeholders and reflects confidence in NSEâ??s role in strengthening Indiaâ??s capital markets.

NSE has been trying to list its shares since 2016, but the process was repeatedly delayed due to regulatory probes.

Recently, SEBI Chairman Tuhin Kanta Pandey had indicated that approval for NSEâ??s IPO was expected soon, raising hopes among market participants.

/IANS