Bank of Baroda is proposing to divest up to 76,90,375 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.
NSE IPO timeline: Issue may open on September 18, listing likely on September 25
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.
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