NSE IPO: The IPO committee of the National Stock Exchange of India (NSE) has appointed a record 20 merchant bankers, along with several law firms and other intermediaries, to manage its public issue.
The development follows the NSE board's decision in February to proceed with its long-pending public listing. The proposed IPO will consist entirely of an offer-for-sale (OFS) by existing shareholders, with no fresh issue of shares.
In a statement, NSE said the selection of intermediaries was carried out through a "structured, transparent and competitive process" based on an evaluation framework approved by the IPO committee.
NSE IPO Merchant Bankers
The 20 merchant bankers appointed include Kotak Mahindra Capital Company, JM Financial, Axis Capital, IIFL Capital Services, Motilal Oswal Investment Advisors, ICICI Securities, SBI Capital Markets, Nuvama Wealth Management, HDFC Bank, Avendus Capital, Morgan Stanley India Company, Citigroup Global Markets India, J.P. Morgan India, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, 360 ONE WAM, Anand Rathi Advisors, DAM Capital Advisors, Pantomath Capital Advisors and Equirus Capital.
Eight law firms have also been selected for the issue-- Cyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins LLP, Sidley Austin Singapore Pte. Ltd., AZB & Partners, S&R Associates, Shardul Amarchand Mangaldas & Co and Trilegal.
NSE IPO Registrar
Other intermediaries appointed include MUFG Intime India (registrar), Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication and Redseer Strategy Consultants.
According to the exchange, these intermediaries will assist in regulatory filings, due diligence, documentation, marketing and execution of the proposed public issue, in line with applicable regulations.
With the completion of this process, the mandate of Rothschild & Co India as process advisor for the selection and appointment of NSE's IPO intermediaries has concluded.
NSE IPO: SEBI NOC
In January, the Securities and Exchange Board of India (Sebi) granted a no-objection certificate (NOC), allowing the exchange to move ahead with its listing plans after more than a decade of delays.
