NSE IPO Process Moves Forward with Intermediaries and Regulatory Approval
NSE is finally moving on with the IPO stuff. They brought in twenty merchant bankers, plus a bunch of law firms and other intermediaries to handle the whole thing. It’s a big step, finally.
The whole move got the thumbs up from the exchange’s IPO committee, chaired by Srinivas Injeti. That meeting happened Thursday.
This development follows the board’s decision back in February to finally start those listing plans. Remember that? It’s going to be an offer-for-sale, just from the existing shareholders. No new shares being issued. That’s what the exchange said.
They claimed the selection process for these guys was structured, transparent, and competitive. Based on some evaluation framework the committee approved.
Look at the names they picked for the merchant bankers.
And not just bankers. They also brought in eight law firms to help navigate this mess.
Then there were the other helpers. Beyond the lawyers and bankers, NSE brought in several other intermediaries. MUFG Intime India, Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication, and Redseer Strategy Consultants.
These groups are supposed to handle everything. Regulatory filings, due diligence, documentation, marketing, and the whole execution of the public issue, making sure everything follows the rules.
And yeah, the process itself got a final sign-off. Rothschild & Co India was the process advisor for picking these intermediaries. That mandate is done now.
It all feels like it was stuck for ages. Remember that Sebi gave the no-objection certificate back in January? That’s what finally let the NSE push forward with the listing plans after what felt like a decade of waiting.
It’s strange how this came about. Back in 2016, they tried to file those draft offer documents. Aiming for about ten thousand crore through an OFS. But that got shelved. Sebi brought up governance worries, specifically linked to that co-location case. So, they stopped everything. They kept asking the regulator for approval, trying to get the Green light to proceed. Now, things are moving, slowly. Messily.
Written by Gree News Team — Senior Editorial Board
Gree News Team covers international news and global affairs at Gree News. Our collective of senior editors is dedicated to providing independent, accurate, and responsible journalism for a global audience.
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