National Stock Exchange of India Ltd (NSE) on Thursday (March 12) has concluded the process for selecting intermediaries for its much-anticipated Initial Public Offering (IPO), officially marking the next step in India’s largest bourse moving toward going public.

The IPO Committee, chaired by Srinivas Injeti, approved the appointments following a structured, transparent, and competitive evaluation process. With this, the engagement of Rothschild & Co India Private Ltd as process advisor has now concluded.

Merchant Bankers

A total of 20 merchant banks have been appointed, setting a new record for India IPOs (the previous record was 18 banks for ICICI Prudential AMC). They include:

Also read: NSE may onboard merchant bankers for IPO this month: MD Ashish Chauhan

Law Firms

Eight law firms have also been selected to advise on regulatory, documentation, and compliance aspects:

• Cyril Amarchand Mangaldas
• Khaitan & Co
• Latham & Watkins LLP
• Sidley Austin Singapore Pte. Ltd
• AZB & Partners
• S&R Associates
• Shardul Amarchand Mangaldas & Co
• Trilegal

Other Intermediaries

Additional intermediaries supporting NSE across filings, due diligence, marketing, and execution include MUFG Intime India Private Ltd, Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication Ltd, and Redseer Strategy Consultants Pvt Ltd.

With the finalisation of these appointments, NSE is now fully geared up to move ahead with its IPO, with valuation and size to be determined as the formal process commences.