Cyril Amarchand Mangaldas (CAM), Shardul Amarchand Mangaldas (SAM), AZB & Partners, Khaitan & Co, Trilegal and S&R Associates are among the law firms selected to advise on the proposed Initial Public Offering (IPO) of the National Stock Exchange of India (NSE).

The exchange on Thursday announced that it has concluded the process of selecting merchant bankers, law firms and other intermediaries for the proposed listing. The selection was carried out through a competitive process approved by NSE’s IPO Committee.

In total, eight law firms have been appointed as legal advisors for the transaction. Apart from the six Indian firms, international law firms Latham & Watkins and Sidley Austin, Singapore have also been selected.

The appointments mark a key step in NSE’s long-awaited public listing, which has been under consideration for nearly a decade. The exchange had first filed draft papers for an IPO in 2016 but the process stalled following regulatory investigations into alleged irregularities in its co-location trading facilities.

After years of regulatory proceedings, the Securities and Exchange Board of India (SEBI) granted a no-objection certificate earlier this year, clearing an important hurdle for the IPO. NSE’s board subsequently approved plans to proceed with the listing through an offer-for-sale structure by existing shareholders.

Established in 1994, NSE is India’s largest stock exchange in terms of equity trading volumes and one of the world’s leading derivatives exchanges. Its proposed listing is expected to be one of the most closely watched IPOs in the Indian capital markets, given the exchange’s central role in the country’s financial infrastructure.

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