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Shares of Bank of Baroda Ltd ended at ₹236.10, down by ₹0.45, or 0.19%, on the BSE.
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State-owned lender Bank of Baroda Ltd on Tuesday (September 8) said it plans to divest up to 76,90,375 equity shares, equivalent to 35% of its holding in the Stock Exchange of India (NSE), through an Offer for Sale (OFS) as part of NSE’s proposed Initial Public Offering (IPO), subject to regulatory approvals.
"...we advise that the Bank of Baroda is proposing to divest up to 76,90,375 equity shares, being equivalent to 35% of the shares held by the Bank in Stock Exchange of India Limited (NSE), by way of Offer for Sale through Initial Public Offering, subject to all regulatory approvals," the lender said in a regulatory filing.
The bank said the NSE shares were transferred to the escrow account on September 8, 2026, as part of the OFS process. The sale is expected to be completed by the end of September 2026, as indicated by NSE.
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Bank of Baroda said consideration from the sale will be received after completion of the OFS process. The bank is tendering its NSE equity shares in the proposed IPO. The bank received ₹76.90 crore in dividend from NSE for financial year 2025-26.
The transaction does not constitute a related party transaction. Bank of Baroda also said the sale is not part of a Scheme of Arrangement.
The nearly ₹30,000-crore initial public offering (IPO) of the Stock Exchange is likely to open for public subscription on September 18 and list on September 25.
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The issue, which could raise around ₹30,000 crore, is set to surpass Hyundai Motor India's ₹27,870-crore offering in 2024 to become India's largest IPO.
The price band for the IPO is expected to be announced on September 15, followed by the anchor book on September 17. The public issue is likely to remain open on September 18, September 21 and September 22.
The IPO will comprise an offer for sale (OFS) of up to 148.9 million equity shares of face value ₹1 each, representing nearly 6% of NSE's paid-up equity capital. There will be no fresh issue of shares, meaning the exchange itself will not receive any proceeds from the offering.
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Shares of Bank of Baroda Ltd ended at ₹236.10, down by ₹0.45, or 0.19%, on the BSE.
First Published:
Sept 8, 2026 6:33 PM
IST
