NSE Begins Banker Selection Process For Proposed ₹22,700 Crore IPO

By Kotak News Desk
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26 Feb 2026 at 7:20 PM IST
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Market News
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2 min read

Summary

NSE has started preparations for its long-awaited IPO, inviting banks to pitch for a proposed ₹22,700 crore offer for sale while working toward a DRHP filing in the coming weeks.

The National Stock Exchange of India has reportedly begun early groundwork for its long-pending public listing by inviting investment banks to present proposals for a potential Initial Public Offering (IPO) estimated at nearly ₹22,700 crore.

How Is The IPO Preparation Taking Shape?

The exchange’s board has set up a dedicated committee and appointed Rothschild & Co as an independent adviser to oversee the listing process, including the selection of:

Lead bankers
Legal counsel
Other intermediaries

The exchange is aiming to submit its Draft Red Herring Prospectus (DRHP) around late March, though the timeline may extend into early April depending on documentation progress.

An earlier filing is possible if the September quarter audited financials are used, while reliance on December quarter numbers could shift the submission to the April month.

What Are The Likely IPO Details?


Issue Format	Entirely Offer for Sale (OFS)	Existing shareholders are expected to sell up to 4.5% of the stake
Issue Size	Estimated at ₹22,700 crore	-

However, the growing shareholder base, which has increased from over 5,000 in December 2023 to ~1.91 lakh at present, may pose an operational problem for the public issue.

What Should Investors Watch Ahead?

The most recent events hint at new momentum in a listing that, if carried out, could be one of the biggest in India's capital markets.

It is also likely that investors will be able to observe how the stock exchange's strong derivatives trading volumes and dominance in the market will influence the valuation expectations and level of demand at the time of the initial public offering.

Sources:

Outlook Money
ET

This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.

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