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NSE hopes to float IPO in next fiscal

Press Trust of India  |  New Delhi 

Leading stock exchange NSE today said it hopes to float its initial public offer (IPO) next fiscal even as markets regulator Sebi returned its consent application in a high-profile probe into the co-location issue. The exchange's Rs 10,000 crore IPO has been delayed because of the probe in the co-location matter and the regulator had earlier issued show cause notices to several individuals as well as the exchange, while the role of some brokers is also being probed. "The timeline for the IPO is dependent on the resolution of the regulatory matters with Sebi and we are hopeful we will be able to do the IPO in fiscal 2019," NSE said in a statement. The exchange said that Sebi has returned its consent application in the co-location probe due to ongoing investigations in the case. Further, the bourse said it is committed to resolving the regulatory issues expeditiously. The exchange had filed the settlement application with the (Sebi) in July last year. It had sought a settlement with the regulator in connection with a probe relating to allegations of unfair access to its high to some brokers. The NSE said it can file the consent application after the completion of the investigations and it intends to do the same in due course. A consent settlement allows entities to settle charges by paying a penalty without admission or denial of guilt. According to regulatory sources, Sebi has returned NSE's settlement plea as the probe is at critical position with regard to brokers and former senior executives of the exchange.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 19:40 IST