NSE-BSE IFSC units may file merger plea before NCLT by September-end

Insiders suggest the possibility of an all-share amalgamation of arch rivals

The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official.

Sources indicate that the merger proposal has received approval from their respective boards.

Both the NSE and BSE are arch rivals when it comes to onshore trading. However, the move to integrate their fledgling platforms at the GIFT International Financial Services Centre (IFSC) comes following a push from the government, informed