NSE IPO: Bank of Baroda to divest up to 35% of holding in National Stock Exchange through OFS in exchange’s public offer

Bank of Baroda plans to divest up to 76,90,375 equity shares, equivalent to 35 percent of its shareholding in the National Stock Exchange (NSE), via an Offer for Sale as part of NSE's proposed IPO. The transaction is subject to regulatory approvals, with shares already transferred to an escrow account and the sale expected by end-September 2026. The NSE IPO, entirely an OFS of up to 14.9 crore shares (6 percent of paid-up capital) by existing institutional shareholders, received Sebi approval last week, with market estimates sizing the issue at around Rs 30,000 crore and implying a market capitalisation of over Rs 5 lakh crore. The public subscription is expected to open on September 18 and list on September 25.