Mumbai, June 15 -- Over a dozen major institutional and corporate investors are expected to sell shares in the proposed initial public offering (IPO) of National Stock Exchange (NSE) while its biggest investor Life Insurance Corp. of India may hold on to its stake, two people aware of the matter said. India's largest stock exchange is expected to file draft offer documents for its IPO this week, in one of the most anticipated share sales of recent times.

State Bank of India, Bank of Baroda, Stock Holding Corp. of India (SHCIL), Indian Bank, The New India Assurance Co. Ltd, The Oriental Insurance Co., General Insurance Corp. of India (GIC), National Insurance Co. Ltd and ICICI Lombard are among top domestic shareholders who plan to sell a...