NSE IPO hangs in the balance as Sebi flags regulatory gaps in fresh letter

In a detailed communication, regulator spells out areas that bourse has to address before it goes for an IPO

The National Stock Exchange’s (NSE’s) plan to launch an initial public offering (IPO) remains in limbo as the Securities and Exchange Board of India (Sebi) has highlighted several deficiencies in its latest communiqué to the exchange. 

Sources said Sebi, in a comprehensive letter, has outlined all the areas the country’s top bourse must address before it is IPO-ready. Sebi has given NSE up to 24 months to resolve these issues before seeking approval for its long-delayed maiden IPO.  “The recent activation of NSE’s International Securities Identification Number — a unique global code for securities trading and settlement — to enable