National Securities Depository Ltd. (NSDL), India's first electronic securities depository, has filed its draft papers with market regulator Securities and Exchange Board of India (SEBI) for its initial public offer (IPO).
The IPO will be a full Offer for Sale (OFS), where existing shareholders like NSE, Union Bank of India, State Bank of India (SBI), HDFC Bank, IDBI Bank and SUUTI will be selling their shares.
NSDL's OFS will comprise of 5.72 crore equity shares of face value of Rs 2 each. The price of the IPO will be determined at a later date.
Here's how the selling shareholders stack up:
| Selling Shareholder | No. Of Shares Sold |
| IDBI Bank | 2.2 Crore |
| State Bank Of India | 40 Lakh |
| NSE | 1.8 Crore |
| HDFC Bank | 40 Lakh |
| Union Bank Of India | 56.25 Lakh |
| SUUTI | 34.15 Lakh |
ICICI Securities, Axis Capital, HSBC, IDBI Capital, Motilal Oswal and SBI Capital Markets are the Book Running Lead Managers for the issue.
A certain portion of the issue will be reserved for eliglibe employees as well and the company may offer a discount to the eligible employees on the IPO price.
One-third of the anchor investor portion shall be reserved for the domestic mutual funds, subject to valid bids being received from them at or above the anchor investor allocation price. In case of under-subscription, the same will be allotted to the QIB portion, according to the DRHP.
As of financial year 2023, NSDL earned revenue of Rs 1,099.8 crore, which was 33.95 percent higher than the Rs 821 crore it earned in financial year 2022. It made a net profit of Rs 234.8 crore, which was also higher than the Rs 212 crore it earned during financial year 2022.
NSDL is known to be the pioneer of dematerialisation of securities in India, starting in November 1996. As of March 31, 2023, it is the largest depository in India in terms of the number of issuers, number of active instriments, market share in demat value of settlement volume and value of assets held under custody.
First Published: Jul 8, 2023 5:58 PM IST
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