Bank of Baroda plans to divest up to 35% of its holding in the National Stock Exchange (NSE) by selling 76.90 lakh equity shares through an Offer for Sale (OFS) as part of the NSE's initial public offering (IPO). The transaction is expected to complete by the end of September 2026, pending regulatory approvals, according to livemint.com.
The NSE recently received approval from the Securities and Exchange Board of India (Sebi) to raise funds from investors on Dalal Street, marking a key step toward launching what could be the largest IPO in the Indian stock market. Bank of Baroda's divestment through the OFS will form a significant portion of this public offering, enabling the exchange to broaden its shareholder base and raise capital.
This move comes amid growing interest in public listings of major financial market infrastructure institutions in India. The NSE IPO is positioned to be among the biggest in the country, reflecting investor appetite for stakes in established market platforms. Bank of Baroda's sale of its shares is a critical component of this process, aligning with broader trends of divestment by public sector banks in non-core assets.
The NSE's IPO approval from Sebi was granted last week, setting the stage for the sale to proceed. The completion timeline by the end of September 2026 will be closely watched by market participants, as the offering could reshape ownership in one of India's leading stock exchanges.