The Securities and Exchange Board of India (SEBI) has granted approval for the much-anticipated initial public offering (IPO) of National Securities Depository Limited (NSDL). NSDL, a key player in India’s capital market, manages the dematerialization of securities.
The IPO will be a pure offer-for-sale (OFS), with major shareholders like NSE and IDBI Bank set to sell their stakes. The sale includes 57.3 million shares, with IDBI Bank offering 22.2 million shares and NSE offering 18 million shares.
HDFC Bank, which holds an 8.95% stake in NSDL, will sell a 2% stake in the IPO. Shares of HDFC Bank rose over 1% following the news, trading at Rs 1,636.6 on the NSE.
This IPO marks NSDL’s debut on domestic exchanges, making it the second listed depository in India after Central Depository Services Limited (CDSL), which saw a strong market debut in 2017.
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Source: Moneycontrol
News Desk
