Vikram Limaye, CEO Designate, NSE on Friday said that the markets will fund the next wave of investments for growth. Speaking with BTVi he said that “NSE India IPO will be the priority and I am very confident that it will be successful”. “Cash will be used to do some good acquisitions. We are looking at some international exchange partnerships and stake,” he added.
NSE recently appointed IDFC chief Vikram Limaye as its new Managing Director and CEO, nearly two months after the sudden exit of Chitra Ramkrishna from the top post. Limaye will have a tenure of five years with effect from the date he assume office. The appointment, which was approved by NSE’s board last week, is subject to approval of shareholders and capital markets regulator Sebi.
The appointment comes at a time when the exchange is preparing to launch its IPO estimated to be worth over Rs 10,000 crore. Besides, the bourse is facing regulatory issues over alleged preferential access to a few for co-location and algo trade facilities. “The Board of Directors of the National Stock Exchange met on February 3 and decided to appoint Vikram Limaye as MD and CEO of NSE, subject to approval of shareholders and SEBI, for a period of five years,” the exchange said.
Separately, IDFC also said in a regulatory filing that the board of directors of NSE has approved Limaye’s appointment as the Managing Director and CEO. He was with IDFC since 2005 and has over 25 years of experience of working with financial institutions, global investment banks, international commercial banks, and global accounting firms.
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Limaye started his professional career with Arthur Andersen in Mumbai in 1987 and has also worked with Ernst & Young and Citibank. He has worked at Wall Street for eight years with Credit Suisse First Boston before returning to Mumbai in 2004. Limaye has also contributed to various committees of government and industry associations on a range of topics on infrastructure, economic policy, markets and trade.