NSE selects 20 BRLMs for IPO as banks handle marketing
The National Stock Exchange (NSE) is gearing up for its big IPO and just picked 20 BRLMs, making it one of the largest for a single listing.
Big names like Kotak Mahindra Capital Company, JM Financial, HDFC Bank, Axis Capital, and Morgan Stanley India Company will be involved only in marketing the offer.
Existing shareholders may sell 111.42 million shares
NSE's IPO will see existing shareholders (think State Bank of India, Canada Pension Plan Investment Board, and Bank of Baroda) selling up to 111.42 million shares.
Some firms like Morgan Stanley India Company and SBI Capital Markets will only handle marketing as they are associates of some of the selling shareholders in the IPO.
For FY26, NSE reported ₹166.01 billion in revenue from operations and ₹103.02 billion in net profit, showing why this listing is such a big deal.