NSDL IPO gets green light from SEBI

On July 7 of last year, NSDL filed its draft prospectus (DRHP), and the regulator subsequently paused the issue for some time. NSDL is backed by IDBI Bank and the National Stock Exchange (NSE), with 26% and 24% stakes respectively. As per the DRHP, the offering will be in the form of an offer for sale, with both the NSE and IDBI Bank intending to offload their stakes. The IPO will involve the sale of 57.3 million shares by six shareholders. IDBI Bank plans to sell up to 22.2 million shares, while the National Stock Exchange will divest 18 million shares. Union Bank of India is looking to sell up to 5.62 million shares, State Bank of India and HDFC Bank will each sell up to 4 million shares, and the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) will sell up to 3.41 million shares.