National Securities Depository Limited (NSDL), the country’s oldest depository services firm, which revamped the Indian securities market by facilitating the holding and transfer of securities in dematerialized form, has kicked off plans to launch an initial public offer (IPO) in 2023.
As of June 30, 2022, IDBI Bank held 26.1 percent and NSE held 24 percent in NSDL. Other shareholders include the likes of HDFC Bank with 9.95 percent, SBI with 5 percent, Deutsche Bank AG with 5 percent and Citibank, HSBC and Standard Chartered Bank with 3.13 percent each. The central government, through the Specified Undertaking Of The Unit Trust Of India (SUUTI) also holds 6.83 percent.
A second person told Moneycontrol that the final size of the IPO would depend on valuations, but the plan was to raise between Rs 2,500 crore and Rs 3,000 crore. “The filing of papers with Sebi may happen by February or March next year,” he added.
If the listing plans fructify, NSDL would become the second depository services company to be listed on the domestic bourses, post the bumper market debut of peer CDSL (Central Depository Services Limited) in 2017.
CDSL raised Rs 524 crore with the issue getting subscribed a whopping 170 times. Its stock has risen by 5.2 percent in the last six months.
Recently, NSDL acquired a 5.6 percent stake in the government-backed ONDC (Open Network for Digital Commerce).
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