The National Stock Exchange of India Ltd. (NSE) on Friday formed a listing committee to launch the process of going public and to step up engagement with shareholders on its IPO plan, reports a business daily.
“The Board of NSE has formed a listing committee, comprising of board members, shareholders and management representatives to accelerate the process of listing and to assist the MD & CEO in implementing the same,” NSE said in a statement.
The committee would be required to engage with NSE shareholders on the issue of proposed restructuring of the bourse and for its proposed self-listing, according to the financial newspaper.
NSE shareholders include Life Insurance Corporation of India (LIC), State Bank of India (SBI), Goldman Sachs, Tiger Global Holdings and Citigroup Strategic Holdings Mauritius.
It may be recalled that market regulator SEBI has not allowed a self-listing in the recently amended Stock Exchange and Clearing Corporations (SECC) regulations.
“A recognized stock exchange may apply for listing of its securities on any recognized stock exchange, other than itself and its associated stock exchanges,” according to SEBI.
SEBI may allow exchanges to make disclosures directly to the regulator instead of making them to the rival exchange platform on which they are listing, reports the daily.