NSE hopes to list this fiscal

Calcutta: The National Stock Exchange is optimistic that its initial public offer (IPO) will hit the capital market in the current financial year despite delays on account of the ongoing investigation into the co-location case.

"We will get the co-location issues resolved. My hope is we will be able to list in this fiscal," NSE's managing director and CEO Vikram Limaye said on the sidelines of an event of the Indian Chamber of Commerce on Thursday.

The proposed IPO that is reportedly worth Rs 10,000 crore got derailed because of the ongoing investigations by capital market regulator Sebi and other agencies into allegations of unfair access given to some brokers to NSE's high-frequency trading systems. The bourse had flied its draft prospectus in 2016 with an eye on listing in 2017-18.

The Bombay Stock Exchange has already floated its public offer last year and subsequently got listed on the NSE. The stock had closed at Rs 858 on Thursday, above its IPO price (Rs 805-806) but lower than the listing price (Rs 1085).

Limaye further said the NSE was exploring a tweak in its SME platform (Emerge) to create a segment for start-ups. With the Indian technology landscape fast changing, various start-ups "in the technology sphere" could explore listing opportunities.

"We are looking into what can be done to facilitate these listings from the regulatory perspective," he said.

"One of the things we are looking at is rather than having one more platform, (whether it) is possible to create a segment on the NSE Emerge to cater to the start-up community," he said.

The CEO of the bourse also said the NSE was open to inorganic opportunities, both in exchange and non-exchange businesses, and was exploring pilots in blockchain and working on artificial intelligence to be used in surveillance.

National Stock Exchange of India Ltd (NSE)

Bombay Stock Exchange - BSE