NSE Initiates IPO Process, Seeks Shareholder Interest in OFS
New Delhi – The National Stock Exchange (NSE) has begun the process for its initial public offering (IPO), inviting existing shareholders to express interest in participating through an offer for sale (OFS) route.According to sources, the NSE has communicated to investors, requesting expressions of interest (EOI) for shareholders wishing to offload a portion or all of their holdings. This marks a key step forward in the exchange’s long-standing plans for a public listing.
Shareholders are being provided with EOI forms and related documentation detailing the framework and conditions for participation in the OFS. They will have the option to tender shares fully or partially, subject to specified terms. Responses are due by 5 p.m. on April 27.
“In your capacity as a shareholder, you may choose to tender equity shares held by you, in part or in full, for sale in the IPO, subject to the terms and conditions set out in the OFS notice,” the communication stated.
The development signals renewed momentum in the NSE’s listing plans. The exchange is currently identifying potential selling shareholders in preparation for the IPO.
The NSE has enlisted 20 merchant bankers to manage the issue, the highest number of bankers selected for any public offering in India to date. The team includes major investment banks such as Kotak Mahindra Capital, SBI Capital Markets, JPMorgan, and Citigroup.
Eight law firms, including Cyril Amarchand Mangaldas and Trilegal, along with US-based Latham & Watkins, have also been appointed. Additional intermediaries include IPO services firm MUFG Intime and consultancy firm Redseer.
Notably, the IPO of ICICI Prudential AMC in 2025 involved the largest number of bookrunners in an Indian public issue, with 18. The NSE received SEBI approval for its IPO in January. “We are delighted to receive SEBI approval for our IPO — a significant milestone in our growth journey. With SEBI’s approval, we embark on a new chapter of value creation for all our stakeholders,” NSE Chairperson Srinivas Injeti had stated at that time.
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