NSE IPO: Algo issue resolution and defreezing of funds needed, say experts

Lack of closure to the algo controversy could weigh on sentiment, say experts

Defreezing of revenue and closure of the long-pending algorithmic trading case are key for the success of the proposed Initial Public Offer (IPO) of equity by the National Stock Exchange (NSE), say experts.

Although the mega offer by the country's largest stock exchange is keenly awaited, lack of closure to the algo controversy could weigh on sentiment, say investment bankers handling the issue.

"NSE is the next big story the Street is waiting for. However, the algo issue continues to be an overhang, suggests our preliminary talks with potential investors," said a banker on the IPO, requesting not to be named.

The Securities