NSE to file for domestic IPO by January 2017: Report


New Delhi : As part of its attempts to go public and list its shares, the National Stock Exchange (NSE) plans to file the public offer document for listing in India by January 2017. At a meeting held on June 23, the board of the country's largest stock exchange in terms of market share expressed its desire to file the draft red herring prospectus (DRHP) by January 2017.

Interestingly, the board has also advised the management to file for overseas listing by April 2017. According to the regulatory norms, a DRHP has to be filed with the Securities and Exchange Board of India (SEBI) to formally initiate the process of listing. A DRHP contains all the relevant company information (financials, management structure, segments of business, risk factors) based on which potential investors can decide whether to invest in the initial public offer (IPO).

According to a statement issued by the exchange, to accelerate the listing procedures, the board has re-constituted the current Listing Committee as an empowered sub-committee of the board and the said committee will take decisions within a stipulated time line. The process of filing the DRHP will be initiated after addressing restructuring needs of the exchange and the regulatory requirements for listing, said the statement.