NSDL files DRHP with SEBI for IPO
India’s largest depository National Securities Depository Limited (NSDL) has filed its Draft Red Herring prospectus with the Securities and Exchange Board of India (Sebi) for an IPO. The IPO, which is an offer for sale (OFS) of 57,260,001 shares, will see IDBI Bank, NSE, SBI, HDFC Bank and Union Bank of India paring stakes. Post IPO, the dates of which are not yet announced, the stock would be listed on BSE. The IPO includes a reservation of equity shares for subscription by eligible employees.
IDBI Bank and National Stock Exchange (NSE) hold 26% and 24% stakes in the company, respectively. State Bank of India (5%), Union Bank of India (2.8%) and Canara Bank (2.3%) are other key stakeholders.
Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialization of securities in India in November 1996. As of March 31, 2023, the company is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume and value of assets held under custody.
ICICI Securities Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, IDBI Capital Markets & Securities Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the issue.
