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NSDL IPO: NSDL is set to launch its IPO to raise Rs 4000 crore by early August. Backed by IDBI Bank, NSE, Union Bank, and SBI, the IPO will offer 50.1 million shares.
NSDL IPO set to launch the next week.
NSDL IPO: National Securities Depository Limited (NSDL) is all set to launch its IPO to raise Rs 4000 crore in the last week of July or the first week of August, according to a report by MoneyControl. NSDL is backed IDBI Bank, NSE, Union Bank, and SBI as per NSDL’s May 17 addendum.
NSDL IPO will purely an offer for sale, selling shares up to 50,145,001, as per MoneyControl report.
A report of Economic Times stated that the depository has received the in-principal approval from the market regulator Sebi to list on the stock exchanges by August 14. According to mandatory rules, companies must complete the process within one year from IPO approval. According to ET report, the depository is seeking a valuation of Rs 16,000 crore in the IPO.
NSDL had first filed its draft red herring prospectus (DRHP) with Sebi in July 2023 and later submitted a revised version in May this year, trimming the issue size from 57.2 million shares to 50.1 million shares. As per data from unlistedzone.com, the company’s shares were last traded at Rs 1,025 in the unlisted market, down from Rs 1,250 just a month ago.
NSDL IPO: Other Info
Top financial institutions are managing the issue, with ICICI Securities Ltd., Axis Capital Ltd., HSBC Holdings Plc, and IDBI Capital acting as the book-running lead managers.
Once launched, the NSDL IPO is expected to be closely watched by both institutional and retail investors, given the company’s pivotal role in India’s capital market infrastructure.
NSDL, which was established in August 1996, has established itself as a state-of-the-art infrastructure that handles most of the securities held and settled in dematerialised form in the Indian capital market. Though India had a vibrant capital market that is more than a century old, the paper-based settlement of trades caused substantial problems like bad delivery and delayed transfer of title, etc.
NSDL’s rival CDSL is already listed on the stock exchanges.
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Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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