(FE)
National Securities Depository Ltd (NSDL) has filed draft papers with markets regulator Sebi for its initial public offering.The initial public offering (IPO) is a complete offer-for-sale (OFS) of more than 5.72 crore equity shares by existing shareholders, according to the draft red herring prospectus (DRHP).
Under the OFS, IDBI Bank plans to offload 2.22 crore shares, National Stock Exchange (NSE) 1.80 crore shares, Union Bank of India 56.25 lakh shares, State Bank of India and HDFC Bank will offload 40 lakh shares each. Also, Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI) will sell 34.15 lakh shares of the Mumbai-based depository. Shares of the company are proposed to be listed on the BSE, as per the draft papers.
A certain portion of the issue will be reserved for eligible employees as well and the company may offer a discount to them on the IPO price. As of financial year 2023, NSDL’s revenue stood at Rs 1,099.81 crore and its net profit was Rs 234.81 crore, which was higher than that in the previous fiscal. NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India.
