Foreign shareholders in the National Stock Exchange of India (NSE) wrote to the chairman and CEO of the exchange recently, pointing out that the minutes of the September and December meeting of the shareholders fail to mention the discussion on restructuring, and demanding that the minutes be amended.
The letter has once again brought to the fore shareholders’ opposition to the restructuring plan, which they feel could put the exchange’s initial public offering on the backburner, potentially lower valuations and lead to adverse tax implications. This follows a letter dated January 13, sent by a group of nine investors to the exchange’s chairman, opposing the restructuring plan.
“Please note that …
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