NSDL Likely To Float Rs 3,400 Crore IPO In July: Report

The National Securities Depository Limited (NSDL) is going ahead with its plan for an initial public offering which is expected to raise $400 million, which is approximately Rs 3,421.6 crore, as per media reports.

According to a Blomberg report, the proposed listing of India's oldest depository, which was initially cleared by the market regulator in October last year, is now slated to take place as soon as July.

The Largest Depository Of India

The NSDL listing, is the largest depository of India in terms of assets under custody is managed by ICICI Securities Ltd, Axis Capital Ltd, HSBC Holdings Plc and IDBI Capital, and will comprise of 40.1 million shares.

The share offering is an outcome of an offer for sale by major investors including the private lender IDBI Bank Ltd, National Stock Exchange of India Ltd, and State Bank of India, and NDSL itself will not receive any proceeds, according to earlier statements.

According to the Bloomberg report, the NSDL managing director and chief executive Vijay Chandok declined commenting on the timeline of the offering.

The price of the IPO has not been decided yet as it will be decided and announced closer to the date of the IPO.

Additionally, the NSDL IPO is expected to be closely watched by both institutional and retail investors, given the company's pivotal role in the capital market infrastructure of India.

About NSDL

NSDL is a central securities depository in India that enables the electronic settlement of securities, ensuring the smooth and secure transfer of ownership.

It also acts as a central record keeper of securities held in electronic form (Demat accounts) and facilitates the transfer of ownership between investors. 

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