New Delhi, March 30 (IANS) The National Stock Exchange (NSE) has initiated the process for its long-awaited initial public offering (IPO) by reaching out to existing shareholders to gauge their interest in participating through the offer for sale (OFS) route, according to sources.

In a communication to investors, the exchange has invited expressions of interest (EOI) from shareholders willing to offload part or all of their holdings as part of the proposed public issue. It marks a formal step forward in the NSE’s public issue plans, which have been under consideration for several years.

Apart from this measure, the exchange has shared EOI forms and related documents outlining the framework and conditions for participation in the OFS. Shareholders opting to participate will be able to tender their shares either fully or partially, subject to the specified terms.

Moreover, investors have been asked to submit their responses by 5 p.m. on April 27, indicating their intent to participate in the offering.

"In your capacity as a shareholder, you may choose to tender equity shares held by you, in part or in full, for sale in the IPO, subject to the terms and conditions set out in the OFS notice," the communication said.

The development indicated renewed momentum in NSE’s listing plans, with the exchange beginning the process of identifying potential selling shareholders ahead of the IPO.

Earlier, the NSE had appointed 20 merchant bankers to manage the issue, which is the highest number of bankers selected for any public offering in India so far.

The list includes major investment banks such as Kotak Mahindra Capital, SBI Capital Markets, JPMorgan, and Citigroup.

In addition, the exchange has also appointed eight law firms, including domestic firms Cyril Amarchand Mangaldas and Trilegal, along with US-based Latham & Watkins, among others. Other intermediaries include IPO services firm MUFG Intime and consultancy firm Redseer.

Previously, the IPO of ICICI Prudential AMC in 2025 had seen the highest number of bankers involved in an Indian public issue, with 18 bookrunners.

The exchange had received the SEBI approval for its long-awaited initial public offering (IPO) in January. "We are delighted to receive SEBI approval for our IPO — a significant milestone in our growth journey. With SEBI’s approval, we embark on a new chapter of value creation for all our stakeholders," NSE Chairperson Srinivas Injeti had said then.

--IANS

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