Talking to the media following Sebi’s first board meeting under his chairmanship, Pandey said, “We don’t answer on specifics but surely I think we will look into it. We will apply our mind how is it and how we can take it forward…what’s the issues,” the Sebi chief said.
NSE’s IPO is perhaps one of the most anticipated public issues and India’s largest exchange has long been trying to list itself on the BSE but has been unable to do so because of regulatory hurdles.
The National Stock Exchange had earlier said it wants to launch its IPO, which could beat Hyundai’s record of largest public issue, not for price discovery of its shares but for the sake of transparency and accountability.
“The IPO will increase transparency and accountability. We are valued at around Rs 4.75 lakh crore in the unlisted market and as India’s largest exchange we should be accountable to the market,” Sriram Krishnan, Chief Business Development Officer, NSE, had then told reporters in New Delhi.
He said the IPO is not about price discovery as the bourse doesn’t have a promoter. “We are a quasi-commercial organization,” Krishnan had said.Having about 20,000 shareholders, NSE shares are among the most popular ones in the unlisted market where it is trading at around Rs 1,700 per share according to UnlistedZone.The exchange’s current market capitalisation is near Rs 4.15 lakh crore.
The market regulator today approved a proposal to increase the threshold for FPI disclosure to Rs 50,000 crore from Rs 25,000 crore earlier. The regulator will also set-up a committee to review the provisions related to the conflict of interest of officials.
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