NSE appoints Srinivas Injeti as its chairperson after year-long vacancy

The National Stock Exchange (NSE) on Tuesday appointed Srinivas Injeti as the chairperson of its board, filling a post that had been vacant for more than a year. The move is seen as a step forward in the exchange’s long-pending plan to go public.

 

According to PTI, Injeti served on the boards of Securities and Exchange Board of India (Sebi) as well as Life Insurance Corporation (LIC) and was a member of the Financial Stability and Development Council of India from 2017 to 2023.

 

He holds a BA (Hons) in Economics from Shri Ram College of Commerce, Delhi University, and an MBA from Strathclyde Graduate Business School, United Kingdom.

 

NSE, the world’s largest derivatives exchange, has been trying to launch an initial public offering (IPO) since 2016 but has faced hurdles due to ongoing legal cases and governance issues. Its rival BSE is already listed.

 

If approved, the IPO would give an exit opportunity to several major investors, including the LIC, State Bank of India, Morgan Stanley, and Canada Pension Investment Board.

 

Sebi had flagged concerns earlier this year, including the delay in naming a new chairperson after Girish Chandra Chaturvedi’s term ended in July 2024.

 

Injeti, who set up the International Financial Services Centres Authority (IFSCA) in 2020 as India’s first international financial regulator, is expected to bring governance stability at a crucial time for the exchange, according to Reuters.