SEBI agrees in principle to NSE settlement terms in colo and dark-fibre cases worth Rs 1,491.21 crore

AI Market Summary
SEBI's in-principle acceptance of NSE's settlements in the colo and dark-fibre cases crystallizes a total payout of INR 14.9121bn, reducing regulatory overhang ahead of the planned IPO and clarifying contingent liabilities already largely provisioned. While the hit is mostly accounted for, the resolution is material for governance perception and near-term financial optics, amid sequential revenue softness.
Impact level
● Medium
Affected assets
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● Neutral
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SEBI has agreed in principle to accept the National Stock Exchange of India’s settlement applications in the colocation (colo) and dark-fibre cases, with the total settlement amount set at Rs 1491.21 crore. NSE has provided Rs 1391.21 crore in FY2025–26, with a previously imposed Rs 100 crore SAT penalty already adjusted against amounts deposited, and its revenue fell 8% sequentially. The regulatory outcome directly affects NSE’s financials and compliance standing as it prepares for its IPO.