NSDL, India’s largest depository, has received final approval from SEBI to launch an IPO that includes the sale of 57,260,001 shares.
National Securities Depository Ltd (NSDL), India’s largest depository, has received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO).
The NSDL IPO will include the sale of 57,260,001 shares. This will enable IDBI Bank, NSE, SBI, HDFC Bank, and Union Bank of India to reduce their holdings.
Union Bank of India plans to sell 5.62 million shares. State Bank of India intends to sell 4 million shares, and the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) plans to sell 3.4 million shares. HDFC Bank, the sixth shareholder in the IPO, aims to sell 4 million shares.
NSDL is a market infrastructure institution (MII) registered with SEBI. It offers a wide range of products and services to India’s financial and securities markets. As a depository, NSDL provides a strong framework for market participants to operate effectively. It also plays an important role in creating solutions for the expanding needs of India’s financial services sector.
As of March 31, 2023, NSDL managed over 31.46 million active demat accounts through 283 authorized depository participants.
These account holders were located in over 99% of postal codes in India and in 186 countries around the world. By the same date, NSDL had 40,987 registered issuers, as noted in its DRHP.
Union Bank of India plans to sell 5.62 million shares. State Bank of India intends to sell 4 million shares, and the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) plans to sell 3.4 million shares.
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