MUMBAI: The National Stock Exchange has filed two settlement applications with the Securities and Exchange Board (Sebi) in matters related to the co-location and dark fibre cases. The exchange has confirmed the development, as part of disclosures in its earnings statement on Tuesday.
“On June 20, 2025, the exchange filed two separate settlement applications with the regulator under the Sebi (settlement regulations) 2018 for settlement of a) colocation WTM order and colocation AO order; and b) the dark fibre WTM order and the dark fibre AO order. Revert from the Sebi on the above-mentioned applications is awaited,” the NSE said.
“Based on the opinion of the external legal counsel, the exchange is of the view that it has strong grounds to contest each of the above orders/appeals including levy of monetary penalty passed by Sebi. Accordingly, no provision for any liability in this regard is considered necessary in the consolidated statement of financial results for the quarter to June 2025, other than the amount of Rs 100 crore imposed by the SAT in the colocation appeal which had been duly adjusted against the amount deposited by the NSE with the Sebi during the fiscal ending March 2023,” it added.
It may be noted that media reports had stated that the exchange had made a settlement of around Rs 1,400 crore. Since Rs 800 crore is already deposited with Sebi in the co-location case, the exchange might have to pay an additional Rs 600 crore to close the proceedings.
More importantly, once the issue is settled, Sebi will issue a no objection certificate (NoC) to the NSE to go ahead with the much-delayed IPO process.
Meanwhile, the NSE has reported a consolidated total income of Rs 4,798 crore for Q1 of FY26 as against Rs 4,397 crore for Q4 of FY25. It has earned Rs 2,924 crore in net income in Q1 of FY26, up from Rs 2,650 crore in Q4 of FY25.
Further, the consolidated revenue from transaction charges for Q1 rose 7% to Rs 3,150 crore due to an increase in volumes across cash market and derivatives segments.
During the June quarter, the cash market trading segment recorded an average daily traded volume of Rs 1,08,542 crore, up 14%. The average daily traded volume for the equity futures segment was Rs 1,68,430 crore, up 5%, while the same for equity options was Rs 55,514 crore, up 9%.