An initial public offering of the National Stock Exchange will "hopefully progress soon" once outstanding issues are resolved, according to SEBI Chairman Tuhin Kanta Pandey.
Speaking on the sidelines of the Assocham's 16th Capital Markets Conference, Pandey said SEBI will progress soon on granting clearance to NSE for an IPO. "The outstanding issues will be resolved and we'll progress soon...hopeful that it will be cleared soon," he told reporters.
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NSE Managing Director and Chief Executive Officer, Ashishkumar Chauhan, concurred that they have reached out to the markets regulator for a no-objection certificate.
"We've asked the SEBI for an NOC. When that comes, we'll prepare our draft red herring prospectus," he told NDTV Profit on the sidelines of the event.
NDTV Profit had earlier reported that the road to NSE's listing remains long. Even if SEBI grants approval soon, the listing process is expected to take at least a year, even under an accelerated timeline, according to people in the know.
SEBI had previously flagged a number of potential shortcomings with the bourse's IPO in a detailed letter, according to senior officials. The letter was sent at the end of February, coinciding with the conclusion of Madhabi Puri Buch's tenure as SEBI's chairperson.
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