Mumbai, 21 June (IANS). SEBI chairman Tuhin Kant Pandey has said that there is no obstacle in furthering its much awaited IPO schemes for the National Stock Exchange (NSE).
At the FE CFO Awards, Pandey said that there is no obstacle in the case of NSE IPO.
However, when asked if the NSE IPO could come before Diwali this year, the market regulator chief refused to comment on any time limit.
Earlier this month, NSE Managing Director and CEO Ashish Kumar Chauhan said that the NSE is waiting for the No Objection Certificate (NOC) from the capital market regulator and once it is received, the stock exchange will initiate the process of filing its draft Red Herring Prospects (DRHP) for the much awaited IPO.
Speaking to IANS, Ashish Chauhan had said that the exchange has demanded NOC from the Securities and Exchange Board of India (SEBI).
He said, “After getting NOC, we will prepare our draft Red Herring Prospectus (DRHP) and then, we will send it back to SEBI. After that, they will take our time to approve it.”
Last month, SEBI chairman said that pending issues related to NSE IPO would be resolved soon and the regulator will carry forward the process.
At the ‘FE CFO Awards’, the chairman of SEBI said that manipulation in the market will not be tolerated and they will keep a close watch on it, as SMEs are increasing manipulation in the initial public offering (IPO).
The capital market regulator has issued several orders related to SME IPOs in recent times, alleging manipulation, wrong revelations and other irregularities in funds sifts, issue subscriptions.
He said during a program, “We will constantly keep an eye on it. We will take a very strict stance in the matter of manipulation in the market.”
The issue of manipulation has also come to light in derivative trades, especially index options and SEBI is investigating these issues.
-IANS
SKT/
