Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi on Friday said that the initial public offering (IPO) of National Stock Exchange of India's (NSE) shares are likely to be delayed, till the allegations of providing unfair access to certain brokers in its co-location platform and a full-time chief executive officer in place resolves.
"NSE doesn't want to list its IPO till the time sits allegations related to colo (co-location) are resolved. So, the IPO may take another months' time," Tyagi told reporters at the annual session of the Confederation of Indian Industry.
Talking about the timeline on high frequency, he said that the there was a discussion paper last year and so it is something which SEBI has only just learnt about.
"It is a complicated issue and so, we have just learnt of it. We want to come out with proper regulations. But we will proceed very quickly," added Tyagi.
However, the NSE had filed its draft papers with regulator SEBI in December to raise an estimated over Rs. 10,000 crore through IPO, is also waiting for the regulator's go-ahead.
The IPO will witness existing shareholders offloading 20 to 25 percent shares to the public through the offer for sale (OFS) route.
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