The National Stock Exchange has appointed Morgan Stanley and 19 others for its much-anticipated initial public offering.
Earlier, India's largest bourse had said that the valuation and final size of the IPO will be determined only after the merchant bankers are appointed and the formal process begins.
The other 19 merchant bankers selected include:
- Kotak Mahindra Capital Company Ltd.
- JM Financial Ltd.
- Axis Capital Ltd.
- IIFL Capital Services Ltd. (formerly known as IIFL Securities Ltd.)
- Motilal Oswal Investment Advisors Ltd.
- ICICI Securities Ltd.
- SBI Capital Markets Ltd.
- Nuvama Wealth Management Ltd.
- HDFC Bank Ltd.
- Avendus Capital Private Ltd.
- Citigroup Global Markets India Private Ltd.
- J.P. Morgan India Private Ltd.
- HSBC Securities and Capital Markets (India) Private Ltd.
- IDBI Capital Markets & Securities Ltd.
- 360 ONE WAM Ltd.
- Anand Rathi Advisors Ltd.
- DAM Capital Advisors Ltd.
- Pantomath Capital Advisors Private Ltd.
- Equirus Capital Private Ltd.
Besides the bankers, NSE has also selected eight law firms as intermediaries including — Cyril Amarchand Mangaldas, Khaitan & Co, Latham & Watkins LLP, Sidley Austin Singapore Pte. Ltd., AZB & Partners, S&R Associates, Shardul Amarchand Mangaldas & Co, and Trilegal.
Other intermediaries selected include MUFG Intime India Pvt. Ltd., Makarand M Joshi & Company, Manian & Rao, RBSA Advisors, Concept Communication Ltd. and Redseer Strategy Consultants Pvt Ltd, the bourse noted in its exchange filing.
"The selected intermediaries will support NSE across various aspects of the proposed offering, including regulatory filings, due diligence, documentation, marketing and execution, in accordance with applicable laws and regulations," the filing said.
It added that with the completion of the selection process on Thursday, the engagement of Rothschild & Co India Private Limited as the process advisor for selection and appointment of NSE's IPO intermediaries/advisors, has drawn to a close.
ALSO READ: NSE To ICICI Prudential: List Of Top 10 IPOs With Highest Book Runners
Managing Director and CEO Ashish Kumar Chauhan had previoiusly said that the offering could reach the market by the fourth quarter of the next financial year, though a formal launch timeline is yet to be decided.
NSE began operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on SEBI data.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.