GOVERNANCE OVERHAUL PAVES WAYThe road to listing has been lengthy.Initial plans announced in 2016 were put on hold, following regulatory scrutiny over governance practices and concerns about unfair trading access.Since then, reforms in the exchange’s leadership, technology upgrades and strengthened compliance frameworks have helped pave the way for the IPO, according to analysts.“You have the entire structural change that happened,” said Anand Rathi Share and Stock Brokers’ Kanchan.“(To address) all the regulatory issues that happened, NSE very clearly came up with a very strong structural framework to ensure that none of these compliance issues come ahead.”However, external risks could still…