India’s markets regulator is working with the National Stock Exchange of India to resolve outstanding issues for its initial public offering, Securities and Exchange Board of India Chairman Tuhin Kanta Pandey said on Thursday.
NSE, the world’s largest derivatives exchange, has been trying to go public since 2016 but has failed to secure regulatory nod due to pending legal cases and governance shortfalls. Its main rival BSE Ltd was listed in 2017.
“All I can say is that all the outstanding issues will be resolved and we will move forward. Can’t give you the timeline, but I think we should soon be doing it,” Pandey said.
NSE’s latest application in March to secure a so-called no objection certificate from SEBI has not been cleared.
Reuters reported earlier this month that NSE had reached out to India’s finance ministry to intervene on its IPO application.
NSE on May 9 denied it’s seeking government intervention and said that “it hasn’t had any correspondence with government of India in last 30 months relating to its IPO”.
Reuters
