The much awaited IPO for the National Stock Exchange (NSE) is seeing some more developments, and the DRHP is expected to be filed with SEBI by May-end, or the first week of June, according to sources. The NSE IPO committee is likely to meet on Friday to select the marchant bankers for the proposed listing.
As per sources, about 20-25 bankers have made their pitch to the exchange and around 20 bankers, including foreign lenders, are expected to be shortlisted for the process. The shortlisted names of the lenders will be then shared with teh IPO committee. The committee is led by former LIC MD Tablesh Pandey.
The committee is reported to review and select the merchant bankers by Monday, March 16.
Their appointment will represent a major step forward in the IPO journey, as the chosen investment banks will take charge of structuring the issue, liaising with regulators, and drafting the preliminary offer document—the draft red herring prospectus (DRHP). With merchant bankers in place, the formal preparation of the DRHP can begin.
This is a developing story.
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