National Stock Exchange of India Ltd. paid about 1.86 billion rupees ($19.4 million) in fees to the 20 banks that worked on its $2.4 billion initial public offering, according to an exchange filing. The payout amounts to about 0.82% of the issue size, highlighting the relatively modest fees bankers accepted to advise on one of India's most anticipated IPOs in years. While that was higher than the roughly 0.65% indicated before the offering, it is well below the 1.86% average rate paid by local companies last year, according to data compiled by LSEG.