The National Stock Exchange of India has set advisory fees at about 0.65% of the issue size for its upcoming IPO, worth $2.5 billion.
The total fee pool could be around $16.25 million, with the bulk likely to be shared among six lead banks.
This fee is relatively modest compared to the average paid by 417 companies last year and 350 issuers in 2024, which stood at 1.86% and 1.67% respectively.
The six lead banks, including Kotak Mahindra Capital Co. Ltd. and Morgan Stanley, have been given key roles in the NSE IPO.
Experts say the relatively modest fee underscores a broader pattern in India, where issuers keep tight control over costs.
State Bank of India paid six banks a symbolic ₹1 each for its ₹25,000 crore IPO in July, while SBI Fund Management Ltd. offered fees of about 0.01% for its planned $1.4 billion IPO.
Private-sector deals have tended to be more lucrative, with Hyundai Motor India paying about ₹493 crore, or 1.77% of the IPO size, in fees and commissions for its record IPO in 2024.
