NSE IPO Process Gains Momentum as Exchange Invites Bids from Investment Banks
National Stock Exchange Issues RFP for Lead Managers Ahead of Proposed IPO
The National Stock Exchange of India Ltd has taken a significant step toward its long-awaited initial public offering by issuing a request for proposals to investment banks, inviting them to bid for advisory roles in the planned share sale, according to people familiar with the development.The exchange is expected to finalise its advisors by mid-March, the sources said, requesting anonymity as the process remains confidential.
A spokesperson for NSE confirmed that the company’s board has approved the IPO but did not provide additional details.
Rothschild Appointed to Oversee Listing Process
Earlier this month, NSE constituted a dedicated committee and appointed Rothschild & Co. as an independent advisor to steer the listing process. The advisory firm is currently leading the selection of lead bankers, legal counsel, and other intermediaries required for the public offering.The fresh move indicates renewed traction in what could become one of India’s largest share sales. The IPO process had remained stalled for several years due to regulatory and legal hurdles.
Pure Offer for Sale Structure
According to Bloomberg News, the proposed IPO will be structured as a pure offer for sale. Existing shareholders are expected to divest approximately 4 percent to 4.5 percent of the company’s equity.Based on prevailing prices in the unlisted market, the offering could potentially raise around 2.5 billion US dollars.
A Landmark Public Issue in the Making
NSE operates the world’s busiest derivatives market by number of contracts traded, underscoring its pivotal role in India’s capital markets ecosystem.With the board approval in place and the advisor selection process underway, the exchange’s IPO plans appear to be entering a decisive phase after years of delay.
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