Core Viewpoint - The National Stock Exchange of India Ltd. (NSE) is moving forward with its long-delayed initial public offering (IPO) by inviting investment banks to participate in the process, indicating renewed momentum for a significant listing in India [1] Group 1: IPO Process - NSE has issued a request for proposals to select lead advisers and intermediaries for the IPO, with the advisory mandate expected to be finalized by mid-March [2] - Rothschild & Co. has been appointed as an independent adviser to oversee the IPO process [2] Group 2: Equity Sale Details - The exchange plans to sell existing equity through a pure offer-for-sale (OFS) mechanism, with current shareholders expected to divest around 4% to 4.5% of the company's equity [3] - Based on unlisted market prices, the IPO could raise approximately $2.5 billion (nearly ₹23,000 crore) [3] Group 3: Stakeholders Involved - Major stakeholders, including Temasek Holdings and Life Insurance Corporation of India (LIC), are likely to be key sellers, alongside State Bank of India and SBI Capital Markets [4] - All of the exchange's roughly 190,000 shareholders may be given the option to participate in the secondary sale [4] Group 4: Regulatory Context - The development revives NSE's listing plans that have been stalled for years due to regulatory and governance challenges [5] - The formal involvement of banks marks a significant advance toward filing the IPO's draft prospectus, although final regulatory approvals and formal filings are still awaited [5]

Group 1 - BitGo Holdings has priced its initial public offering at $18 per share, which is above the marketed range [1]