NSE selects 20 merchant bankers, 8 law firms, intermediaries for IPO
This story was originally published at 17:16 IST on 12 March 2026
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--NSE concludes selecting merchant bankers for proposed IPO
--NSE selects 20 merchant bankers, 8 law firms for proposed IPO
--NSE names JP Morgan, Morgan Stanley, Citigroup among merchant bankers
MUMBAI – The National Stock Exchange of India Ltd. concluded Thursday the process of selecting intermediaries for its proposed initial public offering. It chose 20 merchant bankers and eight law firms to help with the public issue, alongside other intermediaries required for the offer, according to a press release. This comes after the Securities and Exchange Board of India issued a no-objection certificate for the proposed listing of the exchange in January.
The NSE has selected JP Morgan India Pvt. Ltd., Morgan Stanley Co. Pvt. Ltd., Citigroup Global Markets India Pvt. Ltd., Kotak Mahindra Capital Co. Ltd., JM Financial Ltd., HSBC Securities and Capital Markets (India) Pvt. Ltd., and SBI Capital Markets Ltd., among others, to act as merchant bankers for the issue. The exchange also named Cyril Amarchand Mangaldas, Khaitan & Co., and Latham & Watkins LLP, among others, to be the law firms for the initial public offer.
Among other intermediaries that the exchange has selected are MUFG Intime India Pvt. Ltd., Makarand M. Joshi & Co., Manian & Rao, RBSA Advisors, Concept Communication Ltd., and Redseer Strategy Consultants Pvt. Ltd. The selected intermediaries will support the NSE on various aspects of the proposed offer, including regulatory filings, due diligence, documentation, marketing, and execution, in accordance with applicable laws and regulations, the company said. With this, the engagement of Rothschild & Co. India Pvt. Ltd. as process adviser for selection and appointment of NSE's initial public offer intermediaries and advisers, has ended, the company said. End
Reported by Gopika Balasubramanium
Edited by Rajeev Pai
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