Mumbai: State-owned Bank of Baroda plans to sell up to 76,90,375 equity shares, representing 35 percent of its holding in the National Stock Exchange of India, through the offer for sale component of NSE’s proposed initial public offering.
The proposed divestment is subject to regulatory approvals, Bank of Baroda said in an exchange filing.
NSE shares moved to escrow account
Bank of Baroda said the NSE shares proposed to be sold were transferred to an escrow account on September 8, 2026, as part of the offer for sale process.
The transaction is expected to be completed by the end of September 2026, based on the timeline indicated by NSE. Bank of Baroda will receive the consideration after completion of the OFS process.
The lender received a dividend of Rs 76.90 crore from NSE for the financial year 2025-26.
The bank clarified that the proposed transaction does not constitute a related-party transaction and is not part of any Scheme of Arrangement.
NSE IPO could raise Rs 30,000 crore
NSE’s much-awaited IPO is expected to raise around Rs 30,000 crore, potentially making it India’s largest public offering.
The IPO is likely to open for subscription on September 18 and NSE shares are expected to list on September 25.
The price band could be announced on September 15, followed by the anchor investor book on September 17. The public issue is expected to remain open on September 18, September 21 and September 22.
Also read: Fosun Pharma Sells 4.5% Gland Pharma Stake, Block Deals Worth Rs 2,121 Crore
IPO entirely an offer for sale
NSE’s IPO will comprise an offer for sale of up to 148.9 million equity shares with a face value of Re 1 each. These shares represent nearly 6 percent of the exchange’s paid-up equity capital.
There will be no fresh issue of shares, meaning NSE will not receive proceeds from the IPO.
Bank of Baroda shares closed at Rs 236.10 on BSE, down Rs 0.45, or 0.19 percent.
