Mumbai: Some foreign investors in the National Stock Exchange (NSE), which the market regulator has slapped with a steep fine and a six-month ban from public fundraising, are urging the bourse not to challenge the penalty and instead focus on doing a long-awaited initial public offering. The Securities and Exchange Board of India (Sebi) on Tuesday ordered the country's largest stock exchange to pay about $100 million, plus interest, after finding that it had failed to ensure equal access for all brokers to its network servers. NSE said it was reviewing the order and awaiting legal advice before deciding whether to appeal against Sebi's order to the Securities Appellate Tribunal. But foreign investors in NSE, who have been pushing the exchange to go public, said they fear that an appeal would further delay its plans for an IPO that bankers had estimated could raise up to $1 billion. Also read: Ajay Shah colluded to misuse NSE data for commercial purposes: SebiThis story has been published from a wire agency feed without modifications to the text.

Source: Mint May 02, 2019 11:37 UTC