IPO plan: NSE appoints bankers, legal advisors

MUMBAI: The National Stock Exchange ( NSE), India’s largest stock exchange, has appointed Citibank, JM Financial, Kotak Mahindra and Morgan Stanley as lead investment banks to manage its much-awaited initial public offer (IPO).

Cyril Amarchand Mangaldas has been appointed as legal advisor for the IPO. The exchange has also appointed Price Waterhouse & Co and Chartered Accountants LLP as joint statutory auditors for the financial year 2016-17.

“With these steps, NSE expects the listing process to gain further momentum. NSE will consider appointment of more banks for additional roles as may be felt expedient,” a release from NSE said.

NSE’s rival BSE has appointed seven merchant bankers – Edelweiss Financial Services, Axis Capital, Jefferies, Nomura, Deutsche Bank, Motilal Oswal and SBI Capital Markets – to handle its IPO. BSE is looking to raise anywhere between Rs 400 crore and Rs 1,200 crore from the IPO.