NSDL IPO: The way has been cleared for the Rs 3000 crore IPO of National Securities Depository Limited (NSDL). Stock market regulator SEBI has approved the IPO of the country’s largest depository, NSDL. This IPO will be a complete offer for sale in which NSDL shareholders will offload about 57.3 million shares in the IPO.
CSDL is already listed on the stock exchange and now NSDL will also be listed on the stock exchange. There is a preparation to sell 57,260,001 shares in NSDL’s IPO through Offer for Sale in which IDBI Bank, NSE, Union Bank of India, SBI will sell their stake. IDBI Bank will sell 22.2 million shares, National Stock Exchange 18 million shares, Union Bank of India 5.62 million shares, State Bank of India 4 million shares, SUUTI 3.4 million shares. IDBI Bank has 26 percent stake in NSDL and 24 percent stake in National Stock Exchange. SBI has 5 percent stake, Union Bank of India has 2.8 percent stake, Canara Bank has 2.3 percent stake.
When the draft paper for NSDL’s IPO was filed with SEBI, ADFC Bank had said that it would sell 2 percent of its stake in NSDL in the offer for sale. HDFC Bank has a total stake of 8.95 percent in NSDL. NSDL offers products related to financial and securities markets. After the introduction of the Depositories Act in 1996, NSDL has made a major contribution in increasing the practice of demat accounts in the country. Employees will also be given discount in NSDL IPO. NSDL shares will be listed on BSE.
NSDL’s IPO will come but first another depository company CSDL is listed on the stock exchange which has given multibagger returns to its investors since listing. The share of CSDL is currently trading at Rs 1358 and the stock has given returns of more than 550 percent in the last five years.
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