Details of NSDL's proposed IPO surfaced, company submits draft paper to SEBI for approval
NSDL IPO: Draft papers have been submitted to SEBI for bringing IPO on behalf of Depository Company NSDL. The entire IPO of the company is going to be OFS. In this, shares are being sold by IDBI Bank, NSE, SBI, HDFC Bank, and Union Bank of India. The Offer for Sale will be approximately 5.72 crore shares.
National Securities Depository Limited (NSDL), one of the country's largest depository companies, has submitted draft papers to market regulator SEBI to bring IPO. There are only two depository firms in the country, of which one is NSDL and the other is CDSL, which is already listed in the stock market.
This IPO of NSDL is going to be completely OFS i.e. Offer for Sale. In this, about 5.72 crore shares in the public issue will be sold by the existing investors. Under OFS, the money received in the IPO is not received by the company, rather it goes directly to the shareholders or promoters of the company.
2.22 crore shares will be sold by IDBI Bank in the OFS, while 1.80 crore shares will be sold by NSE, 56.25 lakh shares by Union Bank India, 40 lahks each by State Bank of India and HDFC Bank, 34.15 lakh shares by SUUTI.
A part of the IPO has been reserved for the employees of the company, under which some shares will be given to them at a discount.
NSDL is the largest depository company in the country. It was established under the Depositories Act 1996. In the financial year 2023, the income of NSDL has been more than Rs 1,099.81 crore and during this period the company has made a profit of about Rs 234.81 crore. There was an increase in the profit of the company as compared to the previous financial year.
ICICI Securities, Axis Capital, HSBC Securities & Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal are the Investment Advisors and SBI Capital Markets is the Book Running Lead Manager to the Issue.
