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NSE To Get Listed At 'Most Opportune Time', Says Chief

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Emphasising its committment to being listed, the chief of National Stock Exchange has said the bourse would do so at the "most opportune time".

"Exchanges are committed to listing. Every company will do it when it is the right time for that company. My shareholders and the board also feel the same way that we should do at the most opportune time," Chitra Ramkrishna, NSE's Managing Director and Chief Executive Officer, said here.

Ramkrishna was responding to a query on whether NSE plans to get listed.

NSE has products in equities, derivatives and debt segments.

Currently, there is no Indian stock exchange that is listed on bourses.

Meanwhile, the NSE chief lauded steps initiated by capital market watchdog SEBI (Securities and Exchange Board of India) to strengthen overall corporate governance norms for listed entities.

"It is a very good move. After the market reforms the next big thing is to improve the governance of the companies.

The steps SEBI is taking are absolutely laudable on this," she told PTI.

On measures being taken by NSE in this regard, Ramkrishna said that exchanges, as frontline regulators, are putting in place a framework to ensure that companies comply with various requirements under the listing agreement.

Regarding SEBI proposal that listed companies should inform exchanges about board's decision within 15 minutes of the meeting, she said such a step would help in ensuring equal access to information for all stakeholders.

Noting that the proposal is aimed at building equal access, she said, "it is not that difficult".

"We can create systems. We should not do too much hair splitting on particular parameters. The idea is correct that one set of people should not have the information. The entire nation should know together," she noted.

In response to a query on whether bourses should have powers to impose heavier penalties for entities violating securities law, Ramkrishna said there are already a lot of enabling provisions.

"What we want is people to voluntarily increase the standards. That is the developmental standard we have to follow," she said.

Chitra was here on a visit to attend a key conference in which she spoke on the 'role of stock exchanges in China?s financial reform'.

(PTI)


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