NSE Hires Rothschild To Help Pick Bankers, Lawyers For India IPO

National Stock Exchange of India Ltd. has hired Rothschild & Co. as an independent adviser to oversee its initial public offering. Rothschild will lead the process to select lead bankers, legal counsels and other intermediaries, NSE said in response to Bloomberg queries. The move signals renewed momentum in what could be one of the country's biggest listings. After being stalled for several years due to regulatory and legal hurdles, NSE's board last week approved the IPO proposal. NSE is the world's busiest derivatives bourse. The planned offering is fully an offer for sale, with existing shareholders likely to divest 4% to 4.5% of the company's equity, Bloomberg reported earlier. The IPO could raise about $2.5 billion based on the current trading price on the unlisted market. ALSO READ: Rupee Strengthens By 17 Paise; Settles At 90.61 Against US Dollar