NSE hires Rothschild to help pick bankers, lawyers for India IPO

National Stock Exchange of India Ltd. has appointed Rothschild & Co. as an independent adviser for its proposed initial public offering, Bloomberg reported.

Rothschild will oversee the process of selecting lead bankers, legal advisers and other intermediaries, the exchange said in response to Bloomberg queries.

The development signals fresh momentum for what could become one of India’s largest IPOs. The listing plan had been stalled for several years amid regulatory and legal challenges before NSE’s

board approved the proposal last week. NSE is the world’s busiest derivatives exchange.

The offering is expected to be entirely an offer for sale, with existing shareholders likely to pare their holdings by around 4% to 4.5%, Bloomberg reported earlier. Based on current unlisted market prices, the IPO could raise about $2.5 billion.