Head of India's national stock exchange resigns
The chief of India’s stock exchange resigned on Friday with immediate effect, ahead of its initial public offering.
Chitra Ramkrishna, the chief executive and managing director of the National Stock Exchange of India (NSE), stepped down “due to personal reasons” after being appointed in April 2013 for a five-year term.
The exchange was preparing to publicly list with the bourse expected to file documents with the markets regulator, the Securities and Exchange Board of India, by the end of December.
Its rival the Bombay Stock Exchange is also planning to float.
The NSE, which analysts have valued at around $6bn, said that J. Ravichandran, the current group president, will take over in the interim.
In November, Ramkrishna, the first woman to be appointed the NSE’s chief, was elected chair of the World Federation of Exchanges, which represents about 45,000 publicly listed companies.