The National Stock Exchange is likely to appoint merchant bankers for its long-awaited initial public offering (IPO) in March, its Managing Director and CEO Ashish Kumar Chauhan said.
"The process is still on for determining the merchant bankers. It should happen in the month of March," Chauhan told reporters on the sidelines of the National Stock Exchange of India's (NSE) celebration of 30 years of NIFTY 50.
According to Chauhan, the valuation and final size of the IPO will be determined only after the merchant bankers are appointed and the formal process begins.
"Valuation is usually determined by the merchant bankers. They are yet to be appointed. So, I don't know what the final amounts will be," he said.
ALSO READ: 'Stay Calm': SEBI Chair Urges Investors To Avoid Panic Reactions Amid Iran War Volatility
On regulatory aspects, Chauhan said Sebi rules allowing exchanges to go public with a lower public float would not materially affect the timeline.
"Sebi regulations have allowed NSE-like companies to go with a smaller float because we don't have an identifiable promoter," he said.
Unlike many listed companies, no single entity holds a controlling stake in NSE that can be classified as a promoter, he added.
While Chauhan did not specify a launch timeline, he indicated that the exchange hopes the IPO could reach the market by the fourth quarter of the next financial year.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
