The National Stock Exchange of India has set advisory fees at approximately 0.65% of the issue size for its upcoming initial public offering, according to people familiar with the matter. This translates to roughly $16.25 million in fees for the $2.5 billion offering, which would rank among India's largest IPOs.

The fee structure represents a relatively modest rate for such a major listing, particularly given the exchange's prominent market position. NSE, which operates India's largest stock exchange by market capitalization, is moving forward with plans to list publicly after receiving regulatory approval. The exchange has been preparing for this milestone for months, conducting due diligence and finalizing documentation.

Industry observers note that the fee level reflects the high-profile nature of the deal and NSE's strong negotiating position as both issuer and market operator. The IPO comes at a time when Indian exchanges are seeing robust trading volumes and growing retail participation. NSE's public listing will provide investors with exposure to India's financial infrastructure sector while allowing the exchange to raise capital for future expansion.