Sebi chief Ajay Tyagi on Wednesday said the initial share sale of NSE will “take time” as co-location issues need to be sorted out while a decision is likely soon on the exchange’s appointment of Vikram limaye as new CEO.
limaye, currently chief of IDFC, was selected by the board of the National Stock Exchange (NSE) in February.
The exchange has already received approval from shareholders and board on the appointment of limaye as new Managing Director and CEO of the NSE. Now, the bourse is awaiting Sebi nod.
Asked as to when this approval can come through, Tyagi said: “We had sought certain additional information which has been given to us 3-4 days back. So, we will decide very soon.”
NSE, which filed its draft papers with regulator Sebi in December to raise an estimated over Rs10,000 crore through IPO, is also waiting for the regulator’s go-ahead.
Replying to a query on NSE’s IPO, Tyagi said, “That will take time as the NSE itself wants that co-location issue to be sorted out. It will take some time.”
The IPO will see existing shareholders offloading 20-25 per cent shares to the public through the offer for sale (OFS) route.