The leading stock exchange had submitted to SEBI its draft prospectus for the public offer in December, but the approval has been hanging fire due to issues surrounding the ongoing probe into the NSE co-location case, where some brokers allegedly got preferential access to the exchange’s systems.

According to SEBI chairperson, National Stock Exchange (NSE) may have to refile papers for its Rs. 10,000-crore IPO after addressing issues related to alleged preferential access given to some brokers.

In the case, SEBI wants its forensic audit to quantify unlawful gains made by some brokers, even as the exchange is trying to reach a settlement of the case through consent mechanism.

(Adapted from The Hindu)