Bank of Baroda
Bank of Baroda to sell up to 76.90 lakh NSE shares via OFS in exchange IPO
Bank of Baroda is proposing to divest up to 76.90 lakh equity shares, representing 35% of its holding 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 dated September 8, the bank confirmed the stake sale is subject to all applicable regulatory approvals. The equity shares have been transferred to an escrow account on September 8, 2026, with completion expected by the end of September 2026.
The bank stated that the transaction does not constitute a related-party transaction. It had received a dividend of ₹76.90 crore from NSE for FY26.
The NSE IPO is structured as an OFS of up to 149 million equity shares by existing institutional shareholders, amounting to 6% of the exchange's paid-up capital. No fresh equity will be issued.
Market estimates suggest the IPO could raise around ₹30,000 crore, valuing NSE at over ₹5 lakh crore and placing it among India’s top 10 most valuable companies by market cap.
The issue is expected to open for public subscription on September 18 and list on September 25, with the price band to be announced on September 15 and the anchor book on September 17. The public issue may remain open on September 18, 21, and 22 to avoid the Pitru Paksha period beginning September 26.
Final issue size and valuation will be determined later, pending regulatory clearances.
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