Mumbai, July 31 -- The Securities and Exchange Board of India (SEBI) has agreed in principle to settle all pending regulatory proceedings against the National Stock Exchange (NSE) for a total settlement amount of Rs 1,491.21 crore, removing a major regulatory hurdle for the exchange's long-awaited initial public offering (IPO).

According to an NSE disclosure, the market regulator has agreed to settle all outstanding matters, including the co-location and dark fibre cases, subject to the exchange complying with the settlement terms.

The exchange said SEBI has demanded a cash payment of Rs 714.74 crore in addition to adjusting Rs 776.47 crore already deposited by NSE towards the total settlement amount of Rs 1,491.21 crore.

NSE said it h...