NSE board picks bankers, legal advisor for IPO launch

The National Stock Exchange is following the steps of the BSE, and moving towards launching an IPO to list its shares. 

In a press release from the stock exchange, the bourse said, that the NSE Board had held a meeting on August 22, to appoint investment bankers for its IPO.

In the meeting, the NSE decided to appoint Citigroup Global Markets India Private Ltd, JM Financial Institutional Securities Ltd, Kotak Mahindra Capital Company Limited, and Morgan Staney India Company Private Limited. Apart from this, the stock exchange also picked a legal advisor, Cyril Amarchand Mangaldas for the listing process. 

Last week, the exchange had invited pitches from merchant bankers for the IPO. 

According to the statement from NSE, the stock exchange's board 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.

The NSE Board had given na nod to list its shares in India and abroad, in a meeting held on June 23.