The National Stock Exchange is one step closer to an IPO
The Board of directors of the National Stock Exchange (NSE) approved a proposal to seek a no-objection certificate (NOC) from the Securities and Exchange Board of India (SEBI) at the bourse’s annual general meeting (AGM) held recently, marking a significant step towards an initial public offering (IPO). Recently, the exchange secured Sebi’s approval to increase its share capital through the issuance of bonus shares in a 4:1 ratio. With shareholder approval now in place, the company is set to proceed with the bonus share issuance.
India's largest stock exchange had reported that its June quarter consolidated profit jumped 39% year-on-year (YOY) to Rs. 2,567 crore. Revenue from operations shot up 51% YoY to Rs. 4,510 crore.
On the trading volumes front, cash markets recorded an average daily traded volumes (ADTVs) of Rs. 1,22,872 crore, up 110% YoY, while the equity futures reached an ADTV of Rs. 2,09,279 crore, up 101% YoY. Equity options (premium value) ADTVs rose 33% YoY to Rs. 71,957 crore.
NSE shares have been focus in the unlisted market in recent days as SEBI is trying to clamp down on the rising retail frenzy in the F&O market. The exchange is yet to get regulatory approval for launching its own IPO but is one of the most sought after counters in the unlisted market given its dominance in the equity derivatives segment.
