MUMBAI (Reuters) - The chairman of the National Stock Exchange, Ashok Chawla, told TV channels on Monday the bourse operator would complete an initial public offering (IPO) by the end of the year once it addresses pending issues raised by the country’s regulator.
NSE, the country’s largest exchange, had applied in December for an eagerly awaited IPO that bankers have said could raise as much as $1 billion.
However, Securities and Exchange Board of India (SEBI) has yet to give its approval as it looks into the exchange’s disclosure that some brokers could have been provided with unfair access to its servers.
SEBI has also yet to approve the nomination of Vikram Limaye, currently chief executive of infrastructure lender IDFC Ltd (IDFC.NS), as the NSE’s next CEO.
“We have some legacy issues which we are in the process of settling fully and finally with SEBI,” Chawla told ET Now, according to the TV channel’s website.
“Once that is through, we will (be) back in the space for the IPO and I have little doubt that we should be able to accomplish it well before the end of this calendar year.”
Chawla also made similar comments to CNBC-TV18 according to its website.
SEBI Chairman Ajay Tyagi is due to attend the inauguration of the NSE’s International Exchange in Gujarat later in the day.
Reporting by Rafael Nam; Editing by Swati Bhat