NSDL submits a draft of their IPO papers to Sebi

The market regulator Sebi has received draft documents from National Securities Depository Ltd (NSDL) for its first public offering.

According to the draft red herring prospectus (DRHP), the initial public offering (IPO) is a full offer-for-sale (OFS) of more than 5.72 crore equity shares by existing shareholders.

IDBI Bank intends to sell 2.22 crore shares via the OFS, while the NSE will sell 1.80 crore, Union Bank of India will sell 56.25 lakh, State Bank of India will sell 40 lakh, and HDFC Bank will sell 40 lakh shares apiece.

Additionally, the Mumbai-based depository’s administrator, the Specified Undertaking of the Unit Trust of India (SUUTI), would sell 34.15 lakh shares.

According to the draft documents, the company’s shares are intended to be listed on the BSE.

Additionally, a part of the issue will be set aside for qualified personnel, and the corporation may give them a discount off the IPO price.

NSDL’s income as of the 2023 fiscal year was Rs 1,099.81 crore, while its net profit was Rs 234.81 crore, which was greater than it was the year before.

A market infrastructure organization with a Sebi registration, NSDL provides a comprehensive variety of goods and services to the Indian financial and securities markets. In November 1996, NSDL led the dematerialization of securities in India after the Depositories Act was passed in that year.

By number of issuers, active instruments, market share in demat value of settlement volume, and value of assets kept under custody as of March 31, 2023, NSDL is the biggest depository in India.

The book running lead manager for the issue is ICICI Securities, together with Axis Capital, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets.