NSE IPO is selling a monopoly. Investors should watch the referee
· economictimes.indiatimes.com
NSE's upcoming listing presents investors with a dual business model. The exchange operates as a profit-generating toll booth and a regulatory referee. Global evidence suggests demutualisation creates conflicts, especially in weaker regulatory environments. Sebi's strength will determine if NSE can effectively police itself post-listing. The price band remains the critical factor for investors to consider.
NSE handles about 93% of India's cash equity turnover and 99.79% of equity futures. It's the world's largest derivatives exchange by contract volume. When it li...