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Friday 21 October 2016

NSE secures board clearance to launch IPO via OFS : 21 Oct 2016

Ahead of its IPO, leading stock exchange NSEs board has decided that the public issue will be in the form of an offer for sale by shareholders while the directors have approved issuance of bonus shares, stock split and a dividend payout for the existing investors, reported PTI.

NSE plans to get listed in India as well as abroad. It will file IPO papers with market regulator Sebi for the domestic public issue by January 2017 while the same will be done for overseas listing by April next year.

The exchange has already formed a listing committee to expedite the process. It has roped in four merchant bankers -- Citigroup, Morgan Stanley, JM Financial Institutional Securities and Kotak Mahindra Capital Company -- to manage its upcoming initial public offer (IPO).

NSE has reportedly approached the government and Sebi to bring in norms for self-listing. Regulations of the Securities and Exchange Board of India (Sebi) do not provide for self-listing of a stock exchange and the watchdog has so far said no to considering the matter.


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