NSE IPO moves closer to listing DRHP

The National Stock Exchange (NSE), the country’s biggest bourse, will file for a domestic initial public offering by January 2017. The exchange will also pursue a foreign listing by April 2017.

The NSE’s board of directors will require shareholders’ approval for domestic listing. Then after, the exchange will file DRHP (draft red herring prospectus) with Securities and Exchange Board of India (SEBI). In a bid to speed up the listing process and the regulatory filings, the NSE board has also rebuilt its listing committee as an empowered sub-committee of the board. The committee will take decisions within a stipulated time line. On February 29, the exchange had formed a listing committee to kick-start the process of going public and to step up engagement with shareholders on its share sale plan.

The listing committee after three rounds of deliberations recommended filing for an in-principle approval from SEBI. Meanwhile, very soon the exchange will hire investment bankers for the IPO.

NSE has transformed the capital market, based on technology, innovation, high standards of corporate governance and management practices. The exchange’s business practices and high level of integrity have earned it the trust of the financial markets worldwide. Besides being a platform of choice for all exchange traded financial products in India, NSE's flagship index, Nifty50 is used extensively by investors in India and around the world as a barometer of the Indian capital markets.