24 July 2025
The widely anticipated initial public offering (IPO) of National Securities Depository Ltd. (NSDL) is scheduled to open on July 30 and close on August 1, according to its red herring prospectus (RHP) filed with capital markets regulator SEBI.
The anchor book portion is scheduled for July 29. The IPO is entirely an offer for sale (OFS) of up to 5.01 crore equity shares by existing shareholders, including IDBI Bank, the National Stock Exchange of India (NSE), and the State Bank of India (SBI). IDBI Bank will sell up to 2.22 crore shares, SBI will sell up to 40 lakh shares, NSE will offload up to 1.80 crore shares, HDFC Bank
will sell up to 20 lakh shares, and Union Bank of India will offload 5 lakh shares.
Additionally, the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) will offer up to 34.15 lakh shares
All shares have a face value of Rs. 2 each. Currently, IDBI and NSE hold 26.01% and 24% stake, respectively, in NSDL. As per SEBI norms, no single entity can own more than 15% in a market infrastructure institution. This IPO gives both entities an opportunity to reduce their holdings in compliance. NSDL is reportedly targeting an IPO valuation of around $1.85 billion (Rs. 16,000 crore at current exchange rates). As of December 31, 2024, NSDL is the largest depository in India by number of issuers, number of active instruments, market share in demat value of settlement volume, and value of assets under custody.
SEBI has allowed India's oldest depository to complete its listing by August 14, 2025.
The widely anticipated initial public offering (IPO) of National Securities Depository Ltd. (NSDL) is scheduled to open on July 30 and close on August 1, according to its red herring prospectus (RHP) filed with capital markets regulator SEBI.
The anchor book portion is scheduled for July 29. The IPO is entirely an offer for sale (OFS) of up to 5.01 crore equity shares by existing shareholders, including IDBI Bank, the National Stock Exchange of India (NSE), and the State Bank of India (SBI). IDBI Bank will sell up to 2.22 crore shares, SBI will sell up to 40 lakh shares, NSE will offload up to 1.80 crore shares, HDFC Bank
will sell up to 20 lakh shares, and Union Bank of India will offload 5 lakh shares.
Additionally, the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) will offer up to 34.15 lakh shares
All shares have a face value of Rs. 2 each. Currently, IDBI and NSE hold 26.01% and 24% stake, respectively, in NSDL. As per SEBI norms, no single entity can own more than 15% in a market infrastructure institution. This IPO gives both entities an opportunity to reduce their holdings in compliance. NSDL is reportedly targeting an IPO valuation of around $1.85 billion (Rs. 16,000 crore at current exchange rates). As of December 31, 2024, NSDL is the largest depository in India by number of issuers, number of active instruments, market share in demat value of settlement volume, and value of assets under custody.
SEBI has allowed India's oldest depository to complete its listing by August 14, 2025.
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