Vikram Limaye, former head of infrastructure lender IDFC Ltd, will take over as the next managing director and chief executive of the National Stock Exchange (NSE) on Monday, the country’s largest bourse said.
Market regulator Securities and Exchange Board on India (SEBI) had approved his appointment last month, subject to his resignation from a Supreme Court-appointed cricket committee.
Limaye was relieved of his duties as part of the committee on Friday, the exchange said in a short statement.
The 50-year-old finance industry veteran takes over at a time when NSE’s up to $1 billion IPO has been delayed over regulatory scrutiny into whether it had provided some brokers unfair access to its servers.
The bourse was also hit by a nearly five-hour trading disruption last week.
Limaye will be the first head of NSE to come from outside the ranks of the exchange’s founding team since it was set up in 1992.
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