The IPO of National Securities Depository Limited (NSDL) can be launched next month. The company will raise up to Rs 3000 crore from this issue. A senior official gave this information on February 20. Market regulator SEBI has approved the IPO of the country's largest depository NSDL. This IPO will be completely an Offer for Sale.
However, another source said that the IPO will be launched before the end of April. As a market infrastructure institution (MII), NSDL needs additional approvals. The company needs this approval in addition to the draft red herring prospectus (DRHP). The Mumbai-based securities depository, which has applied for the IPO in July 2023, needs additional approvals before launching the IPO. NDSL filed a draft red herring prospectus for the IPO with SEBI in July 2023. According to the draft prospectus, it plans to sell 5.72 crore equity shares with a face value of Rs 2/share.
ICICI Securities, Axis Capital, SBI Capital Markets, HDFC Bank, HSBC Securities & Capital Markets (India), Motilal Oswal Investment Advisors and IDBI Capital Markets & Securities are the lead book-running managers for the issue. NSDL's competitor Central Depository Services went public in 2017 and had a market cap of Rs 26,109.3 crore at market close on February 20. NSDL is India's largest depository company.
