The National Stock Exchange (NSE) has begun the process for its long-awaited initial public offering (IPO) by contacting existing shareholders to assess their interest in participating through the offer for sale (OFS) route. Shareholders have been invited to express their willingness to offload part or all of their holdings as part of the proposed public issue, marking a significant step forward in the NSE’s IPO plans. The exchange has also provided EOI forms and related documents outlining the terms for participation in the OFS.
Investors have been requested to submit their responses by April 27, indicating their intention to take part in the offering. They have the option to tender their shares fully or partially, based on the specified conditions. This move signifies a renewed push in NSE’s listing preparations, with the exchange actively identifying potential selling shareholders prior to the IPO.
The NSE had earlier appointed 20 merchant bankers to oversee the issue, the highest number of bankers chosen for any public offering in India to date. Notable investment banks like Kotak Mahindra Capital, SBI Capital Markets, JPMorgan, and Citigroup are among those selected. Additionally, the exchange has engaged eight law firms, including Cyril Amarchand Mangaldas, Trilegal, and Latham & Watkins, along with other intermediaries like MUFG Intime and Redseer.
