In­dia’s NSE ex­pects IPO by March

Muscat Daily - - BUSINESS -

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.

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