WhatsApp Leaks, Sebi Review, NSE IPO Buzz Revives Dalal Street
Overview
Dalal Street navigates a surge of activity as insider trading controls face scrutiny following WhatsApp leaks at ICICI Lombard and Hatsun Agro. Concurrently, the Securities and Exchange Board of India (SEBI) convenes a panel to reassess regulatory impact, aiming for greater efficiency and reduced compliance burden. Meanwhile, renewed optimism surrounds the National Stock Exchange's (NSE) long-awaited Initial Public Offering, with SEBI indicating a potential approval this month.
Insider Trading Alarms Ring
Concerns over insider trading have intensified following recent incidents where unpublished price-sensitive information surfaced prematurely. ICICI Lombard General Insurance reported an internal inquiry after draft December-quarter results appeared on an employee's WhatsApp status. The information, though removed within an hour, triggered investigations into potential norm violations.
This marks the second such breach in quick succession. Hatsun Agro Product Ltd. also faced scrutiny after a key employee shared draft quarterly figures on WhatsApp. Both firms are bolstering their internal controls and digital monitoring to identify individuals with access to non-public data.
Sebi Panel to Streamline Regulations
The Securities and Exchange Board of India (SEBI) has established a five-member committee to evaluate its existing regulatory framework. Chaired by Chief Economic Advisor V. Anantha Nageswaran, the committee will assess regulations based on efficiency, compliance costs, and overall cost-benefit analysis. Its mandate includes identifying systemic gaps, redundancies, and emerging risks.
This external advisory group comprises former government and SEBI officials, alongside a market infrastructure expert. The review will specifically consider impacts on market stability, regulated entities, customers, and stakeholders, ensuring norms remain relevant in current market conditions.
NSE IPO Momentum Builds
After a period of subdued activity in the unlisted market, the National Stock Exchange (NSE) is seeing renewed momentum for its Initial Public Offering. SEBI Chairman Tuhin Kanta Pandey suggested that the no-objection certificate for the exchange's IPO filing could be issued this month. NSE shares in the unlisted market have seen fluctuations, trading around ₹1,975 in January 2026, down from a peak of approximately ₹2,400 in May 2025.
With over 12% stake held by retail investors and approximately 163,478 shareholders, the upcoming listing continues to attract significant interest from the investing public.
