NSDL IPO: India’s Largest Depository Set for Public Listing

28 October 2024

National Securities Depository Limited (NSDL), a pivotal institution in India's financial landscape, is moving forward with its much-anticipated IPO. Established as the country's first depository in 1996, NSDL has played a transformative role in India’s capital markets by facilitating the dematerialization of securities. 

NSDL filed its Draft Red Herring Prospectus (DRHP) with SEBI on July 7, 2023, but the process faced a brief delay in August 2023 when SEBI put the DRHP on hold due to ongoing inquiries. However, the pause was lifted when SEBI granted its final approval on September 30, 2024, allowing the IPO to proceed.

• NSDL is targeting to raise approximately ₹3,000 crore, the offering presents a valuable opportunity for both institutional and retail investors. 

• The NSDL IPO consists of an offer for sale of up to 57,260,001 equity shares by the existing shareholders, which includes prominent institutions like IDBI Bank, National Stock Exchange (NSE), Union Bank of India, State Bank of India, HDFC Bank, and Administrator of the Specified Undertaking of the Unit Trust of India are expected to offload a portion of their holdings and adding significance to the IPO.​

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