India’s NSE expects IPO by March
National Stock Exchange of India Ltd (NSE) expects a probe into its high-frequency trading system to be settled within six months, paving the way for an initial public offering (IPO) by March, according to chairman Ashok Chawla.
Billed last year as India’s biggest IPO in more than six years, NSE’s listing plans have been complicated by a regulatory investigation into whether the exchange gave some high-frequency traders unfair access to its trading system. A resolution will clear a major roadblock for the sale.
“It’s difficult to put a specific timeline. Now our expectation, and hope, is that it should get settled in a maximum timeframe of six months,” Chawla said.