NSE IPO Committee Selects Rothschild to Manage Listing Process

The National Stock Exchange (NSE) has appointed Rothschild & Co. as an independent adviser for its proposed Initial Public Offering (IPO), as per Reuters.  

The decision was taken by the exchange’s IPO committee after presentations from multiple advisory firms. NSE confirmed the appointment in a statement. 

Adviser’s Responsibilities 

Rothschild will oversee the selection of book-running lead managers, legal advisers, and other intermediaries for the IPO. The firm will set the evaluation process, define selection criteria, and manage the exercise across all stages. 

Its work will include preparing documentation, handling clarifications, and consolidating feedback from internal stakeholders, along with maintaining records of decisions. 

Offer Structure and Shareholders 

Earlier in February, NSE’s board approved the IPO as an offer for sale by existing shareholders. Among the institutional investors in the exchange are Life Insurance Corporation of India (LIC), State Bank of India (SBI) and Singapore-based Temasek. 

As per news reports, around 4% to 4.5% of the shareholding may be offered, although the exchange has not announced final details. 

Committee to Oversee the Process 

NSE has also reconstituted a dedicated IPO committee to manage the listing. The panel is chaired by non-independent director Tablesh Pandey.  

Other members include public interest directors Srinivas Injeti, Prof. Mamata Biswal, Justice (Retd.) Abhilasha Kumari and Prof. G. Sivakumar, along with Managing Director and CEO Ashishkumar Chauhan. 

Background to the Listing Plan 

The exchange listing proposal had been delayed for several years due to regulatory and legal issues. The process resumed after the market regulator cleared the IPO earlier this year. 

Read More: NSE IPO to be Pure Offer for Sale with Listing Expected in 7 to 8 Months! 

Conclusion 

With the adviser appointed and the committee in place, NSE has begun the formal steps required to take forward its long-pending public offering. 

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