 "NSE to file for domestic IPO by January 2017; will pursue foreign listing too")
National Stock Exchange of India Ltd (NSE), the country's biggest bourse, will file for a domestic initial public offering (IPO) by January 2017 and also look to file for overseas listing.
According to an official statement by the NSE, for the domestic listing, the exchange's board of directors has said that the Draft Red Herring Prospectus (DRHP) should be filed latest by January 2017 — subject to shareholders' approval.
The DRHP will be filed after addressing the restructuring needs of the exchange and the regulatory requirements for listing, the statement added.
The board has also advised the management to file for overseas listing by April 2017.
Further, to accelerate the listing procedures, the board has re-constituted the current Listing Committee as an empowered sub-committee of the board. The said committee will take decisions within a stipulated timeline.
All these decisions were taken during the last meeting of the board of directors on June 23, 2016.
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