NSE IPO: Leading exchange appoints 20 merchant bankers for its mega issue; check full list
The National Stock Exchange of India said that it has appointed 20 merchant banks to manage its long-awaited initial public offering (IPO) on Thursday.
- Mar 12, 2026,
- Updated Mar 12, 2026 4:11 PM IST
The National Stock Exchange of India (NSE) said that it has appointed 20 merchant banks to manage its long-awaited initial public offering (IPO) on Thursday. Market participants are expecting NSE to raise Rs 23,000 crore via its maiden stake sale, which is said to be entirely an offer-for-sale (OFS) from its existing investors.
"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," said the leading exchange in its official communications.
The twenty merchant bankers selected include Kotak Mahindra Capital Company, JM Financial, Axis Capital, IIFL Capital Services (formerly known as IIFL Securities), Motilal Oswal Investment Advisors, ICICI Securities, SBI Capital Markets, Nuvama Wealth Management, HDFC Bank, Avendus Capital, Morgan Stanley India Company, Citigroup Global Markets India, JP 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.
The exchange has also finalized eight law firms including Cyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins LLP, Sidley Austin Singapore, AZB & Partners, S&R Associates, Shardul Amarchand Mangaldas & Co, and Trilegal for its upcoming IPO.
Other intermediaries selected include MUFG Intime India as the registrar for the issue, while Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication and Redseer Strategy Consultants will also 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 as the process advisor for selection and appointment of NSE’s IPO intermediaries / advisors, has drawn to a close today, said the exchange.
The National Stock Exchange of India (NSE) said that it has appointed 20 merchant banks to manage its long-awaited initial public offering (IPO) on Thursday. Market participants are expecting NSE to raise Rs 23,000 crore via its maiden stake sale, which is said to be entirely an offer-for-sale (OFS) from its existing investors.
"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," said the leading exchange in its official communications.
The twenty merchant bankers selected include Kotak Mahindra Capital Company, JM Financial, Axis Capital, IIFL Capital Services (formerly known as IIFL Securities), Motilal Oswal Investment Advisors, ICICI Securities, SBI Capital Markets, Nuvama Wealth Management, HDFC Bank, Avendus Capital, Morgan Stanley India Company, Citigroup Global Markets India, JP 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.
The exchange has also finalized eight law firms including Cyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins LLP, Sidley Austin Singapore, AZB & Partners, S&R Associates, Shardul Amarchand Mangaldas & Co, and Trilegal for its upcoming IPO.
Other intermediaries selected include MUFG Intime India as the registrar for the issue, while Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication and Redseer Strategy Consultants will also 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 as the process advisor for selection and appointment of NSE’s IPO intermediaries / advisors, has drawn to a close today, said the exchange.