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NSE Finalizes Key Advisors for Mega IPO, Targets Listing in 7-8 Months

The National Stock Exchange of India has concluded the selection process for intermediaries for its proposed Initial Public Offering. A total of twenty merchant bankers and eight law firms have been chosen through a structured and transparent process. The IPO, recently cleared by SEBI, is now likely to be launched within the next seven to eight months. This marks a significant step forward for an offering initially filed in 2016 but delayed by regulatory challenges.

Key Points: NSE Selects Merchant Bankers, Law Firms for Proposed IPO

  • 20 merchant bankers selected
  • 8 law firms appointed
  • IPO cleared by SEBI recently
  • Listing expected in 7-8 months
2 min read

NSE concludes process for selection of intermediaries for proposed IPO

NSE concludes selection of 20+ intermediaries for its long-awaited IPO, cleared by SEBI. Listing expected within 7-8 months.

"The selected intermediaries will support NSE across various aspects of the proposed offering - NSE Statement"

Mumbai, March 12

National Stock Exchange of India Limited on Thursday concluded the process for the selection of merchant bankers, law firms and other intermediaries for its proposed Initial Public Offering.

The selection process was carried out in accordance with the framework and evaluation methodology approved by NSE's IPO Committee and was conducted through a structured, transparent and competitive process, the stock exchange said in a statement.

The twenty merchant bankers selected include Kotak Mahindra Capital Company Limited, JM Financial Limited, Axis Capital Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), Motilal Oswal Investment Advisors Limited, ICICI Securities Limited, SBI Capital Markets Limited, Nuvama Wealth Management Limited, HDFC Bank Limited, Avendus Capital Private Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, IDBI Capital Markets & Securities Limited, 360 ONE WAM Limited, Anand Rathi Advisors Limited, DAM Capital Advisors Limited, Pantomath Capital Advisors Private Limited, and Equirus Capital Private Limited.

The eight law firms selected include Cyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins LLP, Sidley Austin Singapore Pte Ltd, AZB & Partners, S&R Associates, Shardul Amarchand Mangaldas & Co, and Trilegal.

Other intermediaries selected include MUFG Intime India Private Limited, Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication Ltd and Redseer Strategy Consultants Pvt Ltd.

"The selected intermediaries will support NSE across various aspects of the proposed offering, including regulatory filings, due diligence, documentation, marketing and execution, in accordance with applicable laws and regulations. With the completion of this process, the engagement of Rothschild & Co India Private Limited as the process advisor for the selection and appointment of NSE's IPO intermediaries/advisors has drawn to a close today," NSE said.

The Initial Public Offering (IPO) of the National Stock Exchange (NSE) has been cleared by the SEBI recently and is likely to be rolled out in the next 7 to 8 months. The Draft Red Herring Prospectus (DRHP) will be prepared in the meantime.

NSE initially filed its Draft Red Herring Prospectus (DRHP) in December 2016. The process was delayed by regulatory challenges, particularly allegations of unfair access to its algorithmic trading platform in India.

- ANI

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Reader Comments

S
Sarah B
As an investor, transparency in the selection process is key. Glad to see NSE emphasizing a structured and competitive process. The inclusion of both domestic heavyweights like Kotak, ICICI and global giants like Morgan Stanley, J.P. Morgan is impressive. Looking forward to applying.
P
Priya S
This is huge for retail investors. NSE is the backbone of our market. I just hope the pricing is fair and not overly aggressive. The delay due to past issues was unfortunate, but hopefully all that is behind them now. Jai Hind!
R
Rahul R
While the lineup is stellar, one has to ask about the costs. Hiring so many top-tier intermediaries, especially the international law firms, must be incredibly expensive. Will these high fees ultimately be borne by the company (and thus shareholders) or are they fixed-cost? A bit more clarity on the cost structure would be good.
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Aman W
Great to see Indian firms like Cyril Amarchand, AZB, and Trilegal holding their own alongside global names like Latham & Watkins. Shows the strength of our homegrown legal and financial expertise. This IPO will put Indian markets firmly on the global map.
K
Kavya N
The next 7-8 months will be crucial. Hope they market it well to the common public, not just HNIs and institutions. A strong retail participation will make it a true people's IPO. Let's see if they reserve a good portion for small investors.

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