NSDL Files Draft IPO Papers With SEBI, Investors To Sell Up To 5.726 Crore Shares

National Securities Depository Ltd., India's first electronic securities depository, filed the draft red herring prospectus for its initial public offering with the Securities and Exchange Board of India on July 7.

The IPO consists of only an "offer for sale" from its key investors.

IPO Details

Through the IPO, NSDL is allowing investors to sell up to 5.726 crore shares through the issue of equity shares with a face value of Rs 2.

The offer for sale includes 2,22,20,000 equity shares from IDBI Bank Ltd.; 1,80,00,001 equity shares from the National Stock Exchange of India Ltd.; 56,25,000 equity shares from Union Bank of India; 40,00,000 equity shares from State Bank of India; 40,00,000 equity shares from HDFC Bank Ltd. (SS); and 34,15,000 equity shares from the administrator of the specified undertaking of the Unit Trust of India.

Leading the transaction as managers are ICICI Securities Ltd., Axis Capital Ltd., HSBC Securities and Capital Markets (India) Pvt., Motilal Oswal Investment Advisors Ltd., and SBI Capital Markets Ltd.

Company Details

National Securities Depository Ltd. is the largest depository in India, as of March 31, 2023, measured by the number of issuers, active instruments, market share in demat settlement volume, and the value of assets held under custody. In November 1996, NSDL became the pioneer of securities dematerialization in India following the implementation of the Depositories Act.

Financials

Revenue of India's largest depository rose 33.95% over the previous year to Rs 1,099.8 crore in the fiscal ended March 31, 2023. Net profit stood at Rs 234.8 crore as against Rs 212 in FY22.