NSE’s IPO plan stumbles at market watchdog’s door: Report

Regulatory concerns and pending legal cases could delay the National Stock Exchange of India’s planned IPO. According to insiders, the Securities and Exchange Board of India is unlikely to approve the exchange’s application until the cases have been resolved. NSE had planned to offer 10% of its shares in a listing that could be worth up to $2.5bn. Among its shareholders are Canada Pension Plan Investment Board, Life Insurance Corporation of India, a Morgan Stanley fund, State Bank of India and Tiger Global. NSE is the world’s largest derivatives exchange by number of contracts traded.