NSE moves closer to listing

The National Stock Exchange of India Ltd (NSE) on Monday said it plans to list on bourses as its board has expressed a desire to file the Draft Red Herring Prospectus (DRHP) latest by January 2017 for domestic listing and by April 2017 for overseas listing.

"For domestic listing, the board of directors of the exchange -- subject to shareholders' approval -- has expressed desire to file the DRHP latest by January 2017, after addressing restructuring needs of the exchange and the regulatory requirements for listing," the exchange said in a statement.

"The board has also advised the management to file for overseas listing by April 2017," it said.

DRHP is the first document which a company desirous of getting its shares listed on a stock exchange files with the Securities Exchange Board of India (SEBI).

The exchange said that the board has re-constituted the current listing committee as an empowered sub-committee of the board to accelerate the listing procedures.

The committee will take decisions within a stipulated time line.

All these decisions were taken during the last meeting of board of directors on AJune 23," it said.

--IAN

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