Sebi examining NSE’s request for initial public offering, says Ajay Tyagi

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Published: February 17, 2020 5:40:24 PM

NSE revived its listing plans, which were on the backburner following a probe by Sebi against the exchange and some of its top officials.

The entire IPO would be an Offer for Sale (OFS), wherein existing shareholders would sell the bourse's shares.The entire IPO would be an Offer for Sale (OFS), wherein existing shareholders would sell the bourse’s shares.

Sebi is examining the National Stock Exchange’s request for an Initial Public Offering (IPO) in terms of the orders passed by the regulator earlier, according to the watchdog’s chairman Ajay Tyagi.

Last month, the exchange said it has approached Sebi for its IPO.

“We are examining NSE IPO request in terms of the orders passed by members last year,” Tyagi told reporters after Sebi board meeting here.

The entire IPO would be an Offer for Sale (OFS), wherein existing shareholders would sell the bourse’s shares.

NSE revived its listing plans, which were on the backburner following a probe by Sebi against the exchange and some of its top officials. It was alleged that the bourse misused its co-location facility and gave preferential access to certain trading members.

Sebi, in April 2019, had barred NSE from accessing the capital markets for a period of six months. It had also asked NSE to “disgorge” more than Rs 625 crore along with 12 per cent interest per annum in connection with the co-location case.

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