The Security and Exchange Board of India (SEBI) chairman Ajay Tyagi told that the board is examining the legal aspects of NSE Initial Public Offering (IPO) and will soon take a call. He announced this when he was speaking on the sidelines of Request For Quote (RFQ) Platform in debt securities.
NSE had approached SEBI for its initial public offering and hoped to launch the public issue by September 2020. According to Mr. Vikram Limaye (Chairman, NSE), the entire IPO would be offer-for-sale (OFS). Here the existing shareholders can sell the shares of NSE.
NSE has resurrected its listing plans, which were on the back burner following an inquiry by SEBI against the exchange and some of its top officers. It was contended that NSE misused its co-location facility and provided preferential access to certain trading members.
In April 2019, SEBI prohibited NSE from accessing capital markets for 6 months. At that time SEBI also asked NSE to discharge more than Rs. 625 crores along with 12% interest per annum with respect to the co-location case.
Earlier in December 2016, the exchange had filed draft papers with SEBI for its IPO. The opening share sale was expected to be Rs. 10000 Crores.