NSE appoints 20 merchant bankers for proposed IPO

The National Stock Exchange of India has appointed 20 merchant bankers as part of the process for its proposed initial public offering, the exchange said in a statement on Thursday.

The selection of merchant bankers, law firms and other intermediaries was carried out through a structured and competitive process based on a framework approved by NSE's IPO Committee.

The merchant bankers selected include Kotak Mahindra Capital Company, JM Financial, Axis Capital, IIFL Capital Services, Motilal Oswal Investment Advisors, ICICI Securities, SBI Capital Markets, Nuvama Wealth Management, HDFC Bank, Avendus Capital, Morgan Stanley India Company, Citigroup Global Markets India, J.P. 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.

Eight law firms have also been appointed, including Cyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins, Sidley Austin Singapore, AZB & Partners, S&R Associates, Shardul Amarchand Mangaldas and Trilegal.

Other intermediaries selected include MUFG Intime India, Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication and Redseer Strategy Consultants.

The selected intermediaries will support NSE in regulatory filings, due diligence, documentation, marketing and execution of the proposed offering. NSE also said the engagement of Rothschild & Co India as process advisor for selecting IPO intermediaries has concluded with the completion of the process.

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