NSE IPO: Bank of Baroda to divest up to 35% of holding in National Stock Exchange through OFS in exchange’s public offer

Last week, the NSE received approval from market regulator Sebi to raise funds from Dalal Street investors, potentially making it the biggest-ever IPO in the Indian stock market.( AI generated image for representational purposes only)AI Quick ReadBank of Baroda is proposing to divest up to 76.90 lakh equity shares, representing 35% of its shareholding in the National Stock Exchange of India (NSE), through an Offer for Sale (OFS) as part of the exchange's proposed Initial Public Offering (IPO).

In an exchange filing on Tuesday, September 8, the bank said the proposed stake sale is subject to all applicable regulatory approvals.

"We advise that the Bank of Baroda is proposing to divest upto 76,90,375 equity shares, being equivalent to 35% of the shares held by the Bank in National Stock Exchange of India Limited (NSE), by way of Offer for Sale through Initial Public Offering, subject to all regulatory approvals," the bank said in its filing.

As part of the OFS process, the equity shares have been transferred to an escrow account on September 8, 2026. The sale is expected to be completed by the end of September 2026, as indicated by NSE.

The consideration from the stake sale will be received after completion of the OFS process. The transaction does not constitute a related-party transaction, according to the filing.

Bank of Baroda had received a dividend of ₹76.90 crore from NSE for FY26, according to the disclosure.

Last week, the NSE received approval from market regulator Sebi to raise funds from Dalal Street investors, potentially making it the biggest-ever IPO in the Indian stock market.

The issue is entirely an offer for sale (OFS) of up to 149 million equity shares by existing institutional shareholders, representing 6% of NSE's paid-up capital being offered to new investors. No fresh equity capital will be issued as part of the transaction.

While the final issue size and valuation will be determined later, market estimates suggest that the IPO size could be around ₹30,000 crore, implying a market capitalisation of more than ₹5 lakh crore. This would put NSE among the top 10 most valuable companies by market capitalisation.

The issue is expected to open for public subscription on September 18 and list on September 25, sources told PTI. The price band for the IPO is expected to be announced on September 15, followed by the anchor book on September 17, the report said, citing the sources.

The public issue is likely to remain open on September 18, September 21, and September 22. There has been no official announcement from the bourse on the issue calendar.

The proposed timeline has been fixed to ensure that NSE shares debut before the 16-day lunar period of 'Pitru Paksha' begins on September 26, as per the report.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.

Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.

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