The New Indian Express ·
NSE is in IPO market for price discovery, says its top executive
CHENNAI: The objective of NSE for public listing is to facilitate price discovery, said a top executive during a press meet here on Saturday, adding that India’s largest stock exchange does not need to raise further capital.
Sriram Krishnan, chief business development officer (CBDO) at NSE Ltd, said, “The NSE is coming to IPO markets for price discovery and does not need further capital as such. Of course, proper valuation and accurate price discovery on a liquid exchange is an important milestone in a company’s journey.”
He further added that the NSE is using artificial intelligence (AI) in surveillance to determine behavioural patterns. “With help of AI, we are able to prevent manipulation and any such instances. This is an evolving process. We have been using this technology for the past two-three years now.” Speaking about the revision in the fund-raise size by the NSE, Krishnan said, “Initially, we had conducted an OFS exercise, wherein we had approached all the shareholders asking them whether they are interested in offloading any shares.