India's NSE appoints Rothschild as independent advisor for IPO

The National Stock Exchange of India on Thursday said that it has appointed Rothschild & Co as an independent advisor to oversee its long-awaited initial public offering.

Rothschild will help select ‌lead bankers, ⁠legal ⁠counsels and other intermediaries for the IPO, NSE said in a statement.

Rothschild will also ensure information parity, consistent stakeholder ​communication, and comprehensive documentation of decisions, NSE added.


Last week, NSE's board approved an offer-for-sale by existing ​shareholders, after receiving clearance ⁠from the country's ‌markets regulator to proceed with ​the ​IPO in January.

The country's largest ⁠bourse had also approved the formation of a ​committee to oversee activities related to ​the listing process.

The committee will be chaired by non-independent director Tablesh Pandey, with NSE's CEO serving as a member.

NSE is India's largest unlisted company by number of investors, adding ‌to the complexity of the listing process. It has not disclosed any ​details regarding ​the offer-for-sale listing.

As ⁠it gears up for what could be one of India's biggest public listings, the exchange approved the ​appointment of Walker Chandiok & Co as its new auditor for five years, replacing Price Waterhouse & Co.