The Financial Express (Delhi Edition)
NSE sticking to IPO deadline: CEO
THE National Stock Exchange will stick to its plan of going public in January so it can give shareholders an opportunity to exit, CEO Chitra Ramkrishna said, reports Bloomberg. The NSE has set up a panel to help file an offer document with the regulator for listing domestically by January, Ramkrishna said. Investors including Tiger Global Five Holding, Norwest Venture Partners X FII - Mauritius and SBI have urged the bourse to speed up plans to list.
Mumbai/Hong Kong, July 27: National Stock Exchange of India will adhere to its plan of going public in January so it can provide shareholders an opportunity to exit, according to its chief executive officer.
The NSE, the nation’s biggest equities bourse, has set up a panel to help with the plan to file an offer document with the regulator for listing domestically by January, CEO Chitra Ramkrishna said. Investors including Tiger Global Five Holding, Norwest Venture Partners X FII - Mauritius and State Bank of India have urged the bourse to speed up plans to list.
“We’ve figured that we have set ourselves an aggressive timeline for listing and that we have a lot of work to do,” she said in an interview at her office. “We want our stakeholders to monetise value and get a transparent price. That’s our prime consideration.”
The company is also pushing ahead with its aim of a listing overseas. That will help enhance NSE’s profile and expand its global reach, Ramkrishna said, without giving details. The bourse is likely to sell shares locally and list depository receipts tied to those shares abroad, Chokkalingam G., managing director at Equinomics Research & Advisory in Mumbai, said by phone.
The exchange hasn’t abandoned its plan to list on itself. It has sought the regulator’s approval even as rules issued in November by the Securities & Exchange Board of India do not permit self-listing by exchanges.
“We will continue to seek regularity clarity on these when we are are getting ready,” she said.
The NSE is held by overseas companies including Goldman Sachs Strategic Investments, Morgan Stanley Strategic (Mauritius) Ltd. and Citigroup Strategic Holdings Mauritius, according to its website. Bloomberg