NSE appoints 4 global coordinators for IPO listing

National Stock Exchange (NSE) has taken one step closer to the launch of its initial public offering (IPO). 

In a meeting held on August 22, India's largest stock exchange decided to engage four joint global coordinators. This includes, the Citigroup Global Markets India Private Ltd, JM Financial Institutional Securities Limited, Kotak Mahindra Capital Company Limited, and Morgan Stanley India Company Private. 

Citigroup, Kotak Mahindra Capital and Morgan Stanley recently carried out the RBL Bank IPO. 

The National exchange said it was committed to the listing of its shares at the earliest. 

The NSE Board had expressed a desire to file the DRHP (draft red herring prospectus) latest by January 2017 for the listing of its share. This was after addressing the restructuring needs of the exchange and the regulatory requirements for the listing. 

The Board has also approved the appointment of Price Waterhouse & Co, Chartered Accountants LLP as Joint Statutory Auditors for the financial year 2016-17 along with the current statutory auditors and as sole Statutory Auditors for the financial years 2017-21, subject to the approval and ratification of shareholders as may be applicable, it said in a release. 

With these development, NSE expects the listing process to gain momentum. The exchange will consider the appointment of more banks for additional roles as may be felt expedient, the statement said.

The NSE's board has also advised the management to file for overseas listing by April 2017.