In this presentation, Shantanu Bawari compares the Indian stock exchange business model to a “toll bridge”. He then provides an in-depth analysis of the exchanges’ operations, covering their offerings and few unique expenses. He also examines the unit economics of key offerings and briefly contrasts Indian exchanges with their global peers. The presentation’s key purpose is to equip viewers with some context before they evaluate the National Stock Exchange’s (NSE) DRHP once it is filed and publicly available.
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