India’s NSE appoints Rothschild as independent advisor for IPO

The National Stock Exchange of India said on Thursday it has appointed Rothschild & Co as an independent adviser to oversee the much-anticipated initial public offering.Rothschild will help select lead bankers, legal advisors and other intermediaries for the IPO, NSE said in a statement.

Rothschild will also ensure information parity, consistent communication with stakeholders and comprehensive documentation of decisions, NSE added.

Last week, NSE’s board approved a sale offer from existing shareholders after receiving approval from the country’s market regulator to go ahead with the IPO in January.

The country’s largest stock exchange had also agreed to set up a committee to oversee activities related to the listing process.

The committee will be chaired by non-independent director Tablesh Pandey, of which NSE CEO will be a member.

NSE is India’s largest unlisted company by number of investors, which adds to the complexity of the listing process. No details about the offer for sale have been disclosed.

As the bourse gears up for what could be one of India’s largest public listings, the bourse approved the appointment of Walker Chandiok & Co as its new auditor for five years, replacing Price Waterhouse & Co.