Mumbai: Former chairman of the Competition Commission of India (CCI), Ashok Chawla, is the new chairman of the National Stock Exchange of India Ltd (NSE).

Chawla’s appointment was confirmed after obtaining a clearance from the market regulator, the Securities and Exchange Board of India, an NSE spokesperson said.

Chawla retired as CCI chairman in January after being at the helm for nearly five years. He has also served as finance secretary and civil aviation secretary.

He will take the place of S.B. Mathur, who retired as NSE chairman earlier this year.

Chawla’s appointment comes at a time when NSE is preparing to go public and provide its shareholders an exit opportunity.

NSE in February formed a listing committee, comprising board members, shareholders and management representatives to accelerate the process of listing. The committee would be required to engage with NSE shareholders on the issue of proposed restructuring of the bourse and for self-listing.

NSE shareholders include Life Insurance Corporation of India (LIC), State Bank of India (SBI), Goldman Sachs, Tiger Global Holdings and Citigroup Strategic Holdings Mauritius.