Explanation:

- Option 1: Mumbai

- The Securities and Exchange Board of India (SEBI) is headquartered in Mumbai.

- Mumbai is the financial hub of India, making it a strategic location for SEBI.

- Option 2: Kolkata

- Kolkata, while being an important city, is not the location of SEBI's headquarters.

- It is more known for its rich history and cultural significance.

- Option 3: Indore

- Indore is a prominent city in Madhya Pradesh, but it's not the location of SEBI.

- It is more renowned for its educational institutions and trade centers.

- Option 4: Chandigarh

- Chandigarh, the capital of Punjab and Haryana, is not where SEBI is located.

- Known for its architecture and urban design, but not for housing SEBI.