The National Securities Depository Limited (NSDL) has received approval from SEBI for its Initial Public Offering (IPO).
NSDL filed for the IPO in July 2023.
It is India’s largest depository, while its competitor, Central Depository Services Limited (CSDL), is already listed on the stock market.
NSDL aims to raise ₹3,000 crore through this IPO.
Client Growth and Share Sale
As of August 31, NSDL has gained 3.76 crore active clients since November 1996, averaging 5,414 new clients each day.
The IPO will be fully based on an offer for sale, as stated in the Draft Red Herring Prospectus (DRHP).
A total of 57.3 million shares will be sold by six existing shareholders.
IDBI Bank plans to sell 22.2 million shares, while the NSE will sell 18 million shares, which represents a 9% stake.
Additionally, Union Bank will sell 5.62 million shares, and State Bank of India will sell 4 million shares.
HDFC Bank is also participating and currently holds an 8.95% stake in NSDL.
CSDL Share Performance
CSDL shares were trading at ₹1,358.50 on the NSE as of 2 PM on Tuesday.
Over the past year, CSDL’s share price has increased by more than 100%, doubling investors’ money.
In the last six months, the stock price has risen by 44%.
The company’s 52-week high is ₹1,664.40, while the low is ₹1,094.50. CSDL has a market capitalization of ₹28,392.65 crore.
