India's largest bourse, National Stock Exchange (NSE), has urged the Securities and Exchange Board of India (Sebi) to revisit its stance on allowing it to go public.
It has been seven years since the NSE first filed an offer document and more than five years since Sebi returned the application, the exchange said in an affidavit submitted to the Delhi High Court, which is hearing a writ petition for expediting the NSE's initial public offering (IPO). Hence, the NSE said, a "fresh view" was required, given the latest facts and circumstances for listing of its securities.
Sebi had in 2019 returned the NSE's draft red herring prospectus, filed in Ensure backbone is stable: CJI to 2016, and advised it to make a fresh fil- Sebi, SAT amid surging markets ing upon resolution of the investigation in the colocation matter (colo). In the affidavit filed on June 19, the exchange said: "It may be noted that complete resolution of all the pending cases may not be feasible at this juncture considering that some of them are before the Supreme Court."
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