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The National Stock Exchange (NSE) has decided to call off the sale of its power trading platform Power Exchange India Limited (PXIL). The move comes within months of NSE finding a consortium of buyers who were ready to pick up a stake of NSE at a nominal rate.
In an extraordinary general meeting (EGM) held in January 2017, NSE along with the National Commodity and Derivatives Exchange (NCDEX) had voted to shut down “loss-making PXIL”. NSE-NCDEX collectively own 61 per cent stake in PXIL. The move was in light of NSE planning to float its initial public offering (IPO).
PXIL’s
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