India’s NSE Kicks Off IPO Process After Board Approval

National Stock Exchange of India Ltd. has started preparations for an initial public offering after its board approved the proposal and formed a committee to oversee the process, according to a regulatory filing on Friday.

The planned offering is expected to be an offer for sale, with existing shareholders looking to sell between 4% and 4.5% of the company’s equity, according to a person familiar with the matter. The IPO could raise about $2.5 billion, the person said.