Why NSE can’t list itself, is Anthropic is worth $2 trillion, and more

In this week’s wrapup, we discuss why NSE can’t list itself, whether Anthropic is worth the $2 trillion price tag, how AI and advanced robotics are reshaping global manufacturing, Hindustan Copper’s green shoe option, and Varun Beverages’ foray into the alcohol business.NSE's dilemma with going publicAfter a decade of delays, the NSE is finally moving toward its IPO.

But before it gets there, it runs into a strange problem. The NSE cannot legally list its own shares on its trading platform because regulations don't allow an exchange to list its own securities.So instead, NSE will formally list on its biggest rival, the BSE.But it isn't the whole picture. NSE will use a mechanism called “Permitted to Trade”, through which NSE's shares could be listed on BSE while still being available to trade on NSE. Once NSE follows suit, India's two biggest exchanges will end up in an almost perfectly circular arrangement.But there’s another reason NSE wants to do this.

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If its shares trade on its own platform, they could eventually qualify for inclusion in the Nifty 50. That would mean the exchange could become a constituent of an index run by itself.But how would compliance work? After all, there’s a huge conflict of interest.