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Marking a milestone moment for Indian capital markets, National Stock Exchange (NSE) MD and CEO Ashish Kumar Chauhan said the strong global participation in its initial public offering (IPO) reflects foreign investors deep confidence in high-quality, transparent, and regulated Indian assets.
Speaking to ANI News on the sidelines of the NSE listing at the BSE in Mumbai on Thursday, Chauhan described the exchange as a direct reflection of the nations expanding economy. "This is a proxy for India's growth," Chauhan said. "NSE is an asset which is, in a way, reflecting India's growth. It has reflected that over the last 32 years since its operations began, and now it is going to reflect it further." Highlighted by an investor base of 130 million individuals and 270 million accounts, he noted that global funds view India as a highly promising market and seek assets that maintain clean, transparent accounting. Addressing the significant 44 per cent participation from Foreign Institutional Investors (FIIs) in the anchor book, Chauhan pointed out that platform-based, highly regulated exchange businesses naturally appeal to global fund managers. "This is India's largest exchange. It ranks in the top 56 in the world and is considered to be number one in many areas," he stated, adding that foreign investors familiar with global counterparts are naturally inclined to invest in such market leaders. Chauhan firmly dismissed concerns regarding potential selling pressure or supply overhang once the 1-to-6 month pre-IPO lock-in periods expire for existing shareholders. "Even before listing, we had 200,000 investors, and none of them was willing to sell, even during the IPO. We had to request them to sell," he explained. He emphasised that most shareholders are long-term institutional investors who have held stakes for 5, 10, or even 30 years, with many using available float to increase their holdings. Operating under the direct scrutiny of primary rival BSE, where the stock is cross-listed, Chauhan assured that NSE will adhere to the highest standards of self-regulation and disclosure. "We have always acted as a listed company over the last four and a half years since I joined, and we will continue to act even more alert to give as much information as possible to market participants and all stakeholders," he remarked. When asked about plans for listing subsidiaries of the exchange group, Chauhan clarified, "Currently, we do not have any plan for a subsidiary IPO." The landmark listing took place on Thursday as NSE shares officially debuted on the BSE ring, marking the formal completion of the exchange's long-awaited transition to a publicly traded market infrastructure institution. (ANI)
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