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Bank of Baroda plans OFS to sell up to 35% NSE stake
The bank is proposing to divest 76.90 lakh shares, and the transaction is expected to close by end-September 2026 after regulators approve the sale process.
Bank of Baroda said it plans to reduce its stake in the National Stock Exchange of India through an Offer for Sale, as part of NSE’s proposed IPO.
In an exchange filing dated September 8, the lender outlined plans to divest up to 76.90 lakh equity shares, equal to 35% of its holding in NSE, subject to applicable regulatory approvals. As part of the OFS process, the shares were transferred to an escrow account on September 8, 2026.
Bank of Baroda said it expects the sale to be completed by the end of September 2026, and noted the consideration from the transaction will be received after the OFS process. The filing also said the transaction does not constitute a related party transaction.
The disclosure comes after NSE received approval from market regulator Sebi to raise funds from investors, which could position the IPO as potentially the largest-ever in India. The IPO is described as an offer for sale by existing institutional shareholders, with no fresh equity capital to be issued, and is expected to open for public subscription on September 18 and list on September 25, with a price band expected to be announced on September 15.