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The listing of NSDL will also mark the second publicly listed depository in India, alongside Central Depository Services (CDSL), listed on the NSE in 2017. NSDL and CDSL are the only Indian depositories registered with SEBI to offer services demat and settlement.
Sebi’s approval for NSDL’s IPO came more than a year after the company submitted its DRHP to Sebi on July 7, 2023. As investors await further details on the IPO of NSDL, here are the main details described in the DRHP.
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NSDL IPO Issue Size
The public issue of NSDL includes an offer for sale of 57,260,001 shares of face value of Rs 2 each. Among the investors selling their stakes, NSE plans to sell 18,000,001 shares, IDBI Bank 22,220,000 shares, Union Bank of India 5,625,000 shares, State Bank of India 4,000,000 shares and HDFC Bank 4,000,000 shares.
Further, the Specified Company Trustee of the Unit Trust of India plans to sell up to 3,415,000 shares of NSDL through the offer for sale route.
Target of NSDL IPO
In the DRHP, NSDL stated that it would not receive any proceeds from the offering and that all such proceeds (net of any offering-related expenses incurred by the selling shareholders) would accrue to the selling shareholders, pro rata shares sold by them. as part of the offer.
The equity shares offered through the Red Herring Prospectus are proposed to be listed on the BSE.
NSDL Financial Details
According to the DRHP, NSDL’s operating revenue for FY23 stood at Rs 1,021.98 crore, compared to Rs 761.10 crore in FY22 and Rs 467.56 crore in FY21. The total expenditure for FY23 was reported at Rs 789.93 crore, Rs 541.68 crore for FY22 and Rs 279.54 crore for FY21.
The company’s total comprehensive income for FY23 increased to Rs 237.11 crore, compared to Rs 212.32 crore in FY22 and Rs 188.55 crore in FY21 .
NSDL IPO Price Band, Lot Size and Other Details
In accordance with the DRHP, NSDL will determine the price band and the offering price in consultation with the Book Running Lead Managers (BRLM), based on the market demand for the shares offered under the bookbuilding process and on qualitative and quantitative factors.
Link Intime India is the IPO registrar of NSDL. ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal Investment and SBI Capital Markets are the lead managers of the public issue.
About the National Securities Depository (NSDL)
NSDL is a SEBI registered market infrastructure institution that pioneered the dematerialization of securities in India in November 1996. As on March 31, 2023, NSDL is the largest depository in India in terms of number of issuers, number of active instruments and market share. in demat value, settlement volume and value of assets held in custody (Source: CRISIL Report). Through its subsidiaries NDML and NPBL, NSDL offers a range of IT solutions across multiple verticals such as e-governance, payment solutions, collaborative industry solutions, regulatory platforms, KYC solutions, repository services insurance and digital banking solutions.
First publication: October 8, 2024 | 1:19 p.m. STI