Sebi asks NSE to refile IPO papers with new financial statements

Securities and Exchange Board of India (Sebi) Chairman Ajay Tyagi on Monday said that National Stock Exchange (NSE) needs to refile Draft Red Herring Prospectus (DRHP) with new financial statement. 

Last year in December, NSE had applied for initial public offer (IPO) to raise over Rs 10,000 crore. 

Reportedly, Tyagi's comment came in after the investigations which released that the stock exchanges have given preferential access to servers to some of its clients. 

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The regulator in a letter of May 31 asked the exchange to stop the issue "as certain regulatory/policy issues are under examination". 

The initial public offer will see existing shareholders offloading 20-25% shares to the public through the OFS route.

The exchange has appointed Citigroup, Morgan Stanley, JM Financial Institutional Securities and Kotak Mahindra Capital Company to manage its IPO.