An external panel established by the Securities and Exchange Board of India (Sebi) has recommended that the National Stock Exchange of India (NSE) pay ₹1800 crore (approximately $192.5 million) to settle various legal disputes. This recommendation is a significant step towards resolving allegations of governance lapses and unequal access to trading members that have hindered the NSE's initial public offering (IPO) for nearly a decade. The recommended settlement amount is notably higher than the ₹1300 crore that the NSE had previously allocated for settling these disputes. Sebi is expected to issue a demand letter to the NSE shortly, prompting them to deposit the recommended amount and finalize the settlement. The NSE, which is the largest stock exchange in India and the largest unlisted company with 190,000 investors, has recently appointed 20 banks to manage its IPO, the largest number for any public issue in India. The exchange is anticipated to file for its IPO by late next month following the declaration of its financial results.