MUMBAI - The initial public offering of exchange operator NSE Ltd will "take some time" after the company disclosed potential instances of unfair access by some brokers to its servers, the new chairman of India's capital markets regulator said on Wednesday. Ajay Tyagi, who took over as chairman of the Securities and Exchange Board of India on March 1, declined to provide specifics or a timeframe for when the IPO would be approved, during a news conference in Mumbai. NSE, India's biggest exchange, filed an application in late December for an IPO that bankers have estimated could raise as much as $1 billion, but SEBI has yet to give its approval.
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MUMBAI - The initial public offering of exchange operator NSE Ltd will "take some time" after the company disclosed potential instances of unfair access by some brokers to its servers, the new chairman of India's capital markets regulator said on Wednesday. Ajay Tyagi, who took over as chairman of the Securities and Exchange Board of India on March 1, declined to provide specifics or a timeframe for when the IPO would be approved, during a news conference in Mumbai. NSE, India's biggest exchange, filed an application in late December for an IPO that bankers have estimated could raise as much as $1 billion, but SEBI has yet to give its approval.
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