NSE IPO: How long do investors need to wait? Check latest news
NSE IPO: As per a report by Zee Business on Monday, December 18, the capital market regulator, Securities and Exchange Board of India (SEBI), has laid down important conditions for the company before it launches its IPO.
NSE IPO: The much-awaited initial public offering (IPO) of the National Stock Exchange (NSE), has made headlines again. As per a report by Zee Business on Monday, December 18, the capital market regulator SEBI (Securities and Exchange Board of India) has laid down important conditions for the company before it launches its IPO. One of the key conditions set by the market watchdog is to make the NSE's system glitch-free, the report added.
The NSE's plan to go public has faced repeated setbacks in the past.
In January 2020, NSE said that it had approached market regulator Sebi for its initial public offering and hoped to launch the public issue by September, subject to approvals. The stock exchange revived its listing plans, which were on the backburner following a probe by SEBI against the exchange and some of its top officials. It was alleged that the exchange misused its co-location facility and gave preferential access to certain trading members.
"We have approached SEBI to seek its approval for the IPO, and after that, we will start the process of appointing merchant bankers, who will help the exchange file draft prospects for the IPO," the then NSE MD and CEO Vikram Limaye had told PTI.
In April 2019, Sebi had barred the NSE from accessing the capital markets for six months. It had also asked NSE to "disgorge" more than Rs 625 crore along with 12 per cent interest per annum in connection with the co-location case.
Earlier in December 2016, NSE filed draft papers with Sebi for its IPO. The initial share sale was expected to garner Rs 10,000 crore. The IPO was planned as a complete offer-for-sale (OFS), wherein existing shareholders would sell NSE's shares.
(With inputs from PTI)
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