NSE keeps its own IPO off its trading floor
The National Stock Exchange (NSE) has clarified it will not trade its own shares on its platform ahead of its much-anticipated IPO, according to its Managing Director and CEO Ashish Chauhan. The exchange, responsible for various market operations, including running the trading system and ensuring fair price discovery, would face potential governance and conflict of interest issues if it allowed its shares to trade on the same platform.
Therefore, NSE is focusing on the IPO, which is an offer for sale where existing shareholders will sell part of their stake to public investors. The IPO size has been reduced from 14.89 crore shares to around 12.64 crore, with the final pricing expected to be around Rs 1,700-1,785 per share.
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