NSE IPO likely to be delayed by a year; Sebi said to be in no hurry to give a nod
With market regulator Sebi's latest order on NSE for violation of securities contract rules and a subsequent probe initiated by other agencies such as income tax and Central Bureau of Investigation (CBI) against former CEO Chitra Ramkrishna, the NSE share sale is likely to be delayed by at least a year, said bankers.
As per ET "Sebi is unlikely to give its nod to NSE to go public at the current situation, and it may take another year or so to clean up the entire system," said a top official at an investment bank. "More action on all those involved in the co-location scam and violation of securities contract rules is likely in the coming months from various agencies. Until then, the regulator may not consider NSE's request to go public."