Mumbai, April 28: Market regulator Sebi may take a call on listing the Bombay Stock Exchange (BSE), the country's premier bourse, in the next six months after the integration of the Securities and Exchange Board of India with the commodities regulator Forward Markets Commission (FMC).
"We are hopeful that in about six months from now, we will be able to take a call on listing of the BSE after resolving several issues pertaining to the integration of Sebi and the FMC," Sebi chairman U.K. Sinha told reporters on the sidelines of an event organised by the Indian Merchants' Chamber here today.
Following the demutualisation process, the BSE sought regulatory permissions to list on bourses.
In 2012, the Sebi had allowed stock exchanges, which had completed over three years of operations, to list their own shares through an initial public offering.
According to Sebi guidelines, stock exchanges should have a minimum net worth of Rs 100 crore and they were given three years to achieve the threshold capital base.
Sinha pointed out that since then several other issues had come up. "There are whole lot of issues, which are still unresolved. But my feeling is that in a period of about six months from now, we will be able to take a call," he said.
"Exchanges in our country today are performing regulatory functions. This includes regulation of brokers and listed entities. We are trying to evaluate whether we are comfortable with the current arrangement," he added, indicating that regulatory functions of the exchanges might have to be separated before they were allowed to list.
USL affair
Sinha declined to comment on the regulator's position with regard to recent developments at United Spirits Ltd (USL). The board of USL had on Saturday asked Vijay Mallya to resign. "I cannot comment on individual cases," he said.
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