India's NSE Selects 20 Merchant Bankers for Proposed IPO

NSE appoints 20 merchant banks for IPO book running

The exchange’s IPO was in limbo for almost a decade

NSE appoints 20 merchant bankers, 8 law firms for proposed IPO

NSE appoints 20 merchant bankers and 8 law firms as it prepares for its long-awaited IPO, marking a significant milestone.

India's NSE selects 20 merchant bankers for proposed IPO

The National Stock Exchange of India on Thursday said it has appointed ​20 merchant banks to manage its long-awaited initial ‌public offering, marking the largest number of bankers selected to manage any public issue in India thus far.

NSE picks 20 banks, eight law firms for mega IPO

Morgan Stanley, Citi, JP Morgan among foreign bankers and Kotak Mahindra, JM Financial, Axis and IIFL Capital among Indian bankers managing the NSE IPO. Eight law firms including Cyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins LLP will advise on the issue.

Take a look at the 20 investment banks and 8 law firms selected by NSE for its mega IPO

With the appointment of 20 i-banks, NSE is set to become the issuer with the highest number of book running lead managers for a mainboard IPO in the history of India Inc. The previous record was held by ICICI Prudential AMC in 2025, which had picked 18 i-banks for its IPO.

NSE hires 20 merchant bankers for its upcoming mega IPO

NSE IPO: NSE has advanced its long-awaited IPO by finalising key intermediaries, including 20 merchant bankers, eight law firms, and advisory partners. These include major domestic and global investment banks such as Kotak Mahindra Capital Company, JM Financial, Axis Capital, ICICI Securities and SBI Capital Markets. The selected intermediaries will handle regulatory filings, due diligence, marketing, and execution.