Mumbai, January 30 (IANS). The National Stock Exchange (NSE) on Friday announced that it has received the final approval from SEBI for its Initial Public Offering (IPO).
The IPO of the country’s largest exchange NSE has been stalled for more than a decade due to co-location case and other hurdles.
After getting approval from SEBI, launching the IPO in the market now largely depends on NSE.
According to reports, NSE is planning to file its listing documents by the end of March and is in talks with investment bankers and legal firms to finalize the IPO documents.
Now investors will have their eyes on the Draft Red Herring Prospectus (DRHP), which will contain all the information related to the IPO.
NSE Chairperson Srinivas Injeti said, “We are extremely pleased to have received SEBI approval for our IPO. This is an important milestone in our growth journey. With SEBI approval, we are starting a new chapter of value creation for all our stakeholders.”
“This approval also strengthens the confidence in NSE as an integral part of the Indian economy and the guide to the Indian capital markets,” he further said in the statement.
NSE has been trying to list its shares since 2016. However, the plan has been stalled due to regulatory scrutiny related to its co-location facility and broader governance issues.
NSE Managing Director and Chief Executive Officer Ashish Kumar Chauhan visited Tirupati with his family this month and offered prayers at the temple of Lord Venkateswara and sought blessings for the exchange, its members, shareholders and the country. During this, Chauhan said that he prayed for the well-being of NSE and the comprehensive development of the nation.
Earlier, SEBI Chairman Tuhin Kanta Pandey had said that NSE may get approval for its IPO within this month.
–IANS
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