A group of nine investors — mostly foreign private equity players which together hold about 20 per cent stake in the National Stock Exchange of India (NSE) — have written to the Securities and Exchange Board of India (Sebi) to apprise it about the shareholders’ opposition to the exchange’s restructuring plan. This follows the letter dated January 13 written by the same group to the chairman of the exchange on the same issue.
The shareholders, including the likes of Tiger Global and SAIF Partners, want Sebi to direct the exchange to abort its restructuring plan as it could delay the exchange’s initial public offering (IPO) and lead to significant tax liabilities. The regulator has agreed to schedule a …
Read the full article at: http://www.business-standard.com/article/markets/nse-shareholders-move-sebi-to-block-restructuring-plan-116012700797_1.html