NSE announces formation of listing committee
Expressing its intent to get listed, leading stock exchange NSE on Friday said that it has formed a Listing Committee that will engage with the stakeholders on self-listing agenda and seek their support to its stand against any kind of regulation by any other bourse. As per Sebi regulations, a stock exchange can not get listed on its own platform and the listing must take place on another exchange. While BSE has said it has no problem with cross-listing and has already approached Sebi seeking approval to launch IPO and get listed, NSE is opposed to the idea of cross-listing and wants to list shares only on its own platform saying it can not be subjected to regulation by a rival. A stock exchange typically functions as a front-line regulator for all the companies listed on its platform in terms of disclosure requirements including of key information. While a number of existing shareholders of NSE has been pushing hard for the exchange to get listed soon, the bourse said in a statement issued today that it “on course to list”. “The Board of NSE has formed a Listing Committee, comprising Board members, shareholders and management representatives to accelerate the process of listing and to assist the MD and CEO in implementing the same,” it added.