NSE flags regulatory, tech, AI, derivatives concentration risks in IPO papers

The National Stock Exchange has flagged substantial financial and operational risks in its IPO papers, including emerging regulatory frameworks, technology breakdowns, cyber threats, and the rise of AI. NSE also highlighted its heavy dependency on derivatives revenue, noting that recent Sebi adjustments have already dampened trading volumes. Stricter regulations could further constrict both activity and profit margins, posing a risk to the exchange's revenue model.