NSE reaches to SEBI, plans to launch its IPO by September

The National Stock Exchange (NSE) has said that “It has approached the markets’ regulator SEBI, for the approval to its IPO.”

While speaking with the PTI, Vikram Limaye, CEO and MD, NSE said, “The exchange has approached the SEBI for the approval for its initial public offering, which it is expecting to launch by the third quarter of this year.”

“After the approval from regulator, we will start the process for the appointment of merchant bankers, who will help us in filing the draft prospectus for the initial public offering,” he said.

Earlier this month, the State Bank of India too said that “It is interested in selling for its 50 lakh shares of NSE, which values 1.01 percent of its total 5.19 share which it owns in the exchange.”

“The entire IPO going to be offer-for-sale (OFS), wherein existing shareholders will sell NSE’s shares,” he said.

In April last year, The Securities and Exchange Board of India (SEBI) restricted the NSE from accessing the capital market for six months. By alleging the exchange for misusing its co-location facility and gave preferential access to a certain trading member.

Where SEBI also asked NSE to ‘disgorge’ more than Rs 625 crores along with 12 percent per annum in connection with the co-location case.