Sebon plans to complete the process of license issuance for a new stock exchange and commodities exchanges within a month. The board has received applications from three companies for a new stock exchange and four companies for two commodities exchanges.
The top corporate groups of the country are in a race to get the license to operate a new stock exchange. Himalayan Stock Exchange, National Stock Exchange, and Annapurna Stock Exchange have applied for the license to start a new stock exchange. Making a second amendment to the Securities Market Operation Regulation, 2064 BS in the second week of September 2022, Sebon initiated the process to establish the second stock exchange in the country. On September 18, 2022, Sebon invited applications for a new stock exchange, commodity exchanges, and stock brokerage firms. However, the process stalled for five months after advocate Deepak Bikram Mishra went to the Supreme Court demanding to stop the licensing process. The licensing process was stalled after the apex court dismissed Mishra's writ petition on October 21, 2022. Following the court's verdict, the Sebon on April 13 again invited applications from interested parties for new stock exchange and commodities exchanges. According to Sebon, the new stock exchange should have a paid-up capital of Rs 3 billion, of which 70 percent will be institutional investments.
