National Securities Depository Ltd. (NSDL), a SEBI-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India, has filed a draft red herring prospectus with the markets regulator for an initial public offering (IPO).
The company plans to raise funds for its selling shareholders through an offer for sale of 5,72,60,001 shares via the IPO.
The offer for sale of equity shares comprises up to 2,22,20,000 shares by IDBI Bank up to 1,80,00,001 shares by the National Stock Exchange of India, up to 56,25,000 shares by Union Bank of India, up to 40,00,000 shares by State Bank of India, up to 40,00,000 shares by HDFC Bank, and up to 34,15,000 shares by administrator of the specified undertaking of the Unit Trust of India.
As of March 31, 2023, the company is the largest depository in India in terms of number of issuers, number of active instruments, market share in demat value of settlement volume, and value of assets held under custody, according to a CRISIL report.
