India's IFCI rises as NSE appoints bankers for long-awaited IPO

IFCI

13/03/2026 04:53

**NSE NSEI.NS said it has appointed 20 merchant banks to manage its highly anticipated initial public offering—the largest number of bankers ever selected for a public issue in India

**Shares of IFCI IFCI.NS rise as much as 10.9% to 59.83 rupees, last up 7%

**Development finance institution IFCI owns about 53% of Stock Holding Corporation of India (SHCIL), which in turns holds 4.4% of National Stock Exchange of India (NSE)

**Banking consortium includes nearly every major investment banker in the Indian market, featuring Kotak Mahindra Capital, SBI Capital Markets, J.P. Morgan, and Citigroup

**Bourse has not yet disclosed specific details regarding the offer-for-sale structure or timeline

**More than 87.8 million shares change hands, nearly 2.9x the 30 day avg

**YTD IFCI stock up ~11%

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))