NSDL To Launch ₹4,011 Crore IPO On July 30, Price Band Set At ₹760-₹800 Per Share

Key Points:

- Entire IPO is an Offer For Sale; NSDL won’t receive proceeds.

- Stakeholders like NSE, SBI, and IDBI are divesting to meet SEBI rules.

- Net profit rose 24.57 percent to Rs 343 crore in FY 2024-25.

New Delhi: National Securities Depository Ltd (NSDL), which plans to raise Rs 4,011 crore through its Initial Public Offering (IPO), on Friday fixed a price band of Rs 760 to Rs 800 per share.

The depository's maiden public issue is schedule to open on July 30 and conclude on August 1. The one-day bidding for anchor investors is schedule to open on July 29.

The IPO only consists of Offer For Sale (OFS) component of 5.01 crore shares and those selling shares under this are -- the National Stock Exchange of India (NSE), State Bank of India (SBI), HDFC Bank, IDBI Bank, Union Bank of India and the Adminstrator of Specified Undertaking of the Unit Trust of India (SUUTI). Since the public issue is entirely an OFS, NSDL will not receive any proceeds from the IPO.

Investors Wait End, NSDL IPO Date Revealed; Issue Size Trimmed Down

At the upper end of the price band, NSDL's maiden public issue is expected to fetch Rs 4,011 crore valuing the company at Rs 16,000 crore.

This upcoming listing will make NSDL the country's second publicly traded depository after Central Depository Services (CDSL), which was listed on the NSE in 2017.

The listing of NSDL is crucial in order to comply with Sebi's ownership norms. These regulations require that no entity can hold more than 15 per cent of the shareholding in a depository company.

NSDL's principal shareholders, IDBI Bank and the NSE, are required to reduce their stake in the company to comply with Sebi's rule. Currently, IDBI holds 26.10 per cent and NSE owns 24 per cent stake in NSDL, which exceeds the permissible limit.

NSDL Plans IPO Launch In July, $400 Million Issue To Mark First Listing By An Indian Depository

It is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996.

For the full financial year 2024-25, the depository's net profit surged by 24.57 per cent to Rs 343 crore and total income rose to Rs 1,535 crore, a 12.41 per cent increase over FY 2023-24.

The company announced that half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional.

NSDL Gets SEBI's Nod To Go Ahead With IPO; CDSL Reacts On NSE, Key Details Still Under Wraps

Investors can bid for a minimum lot size of 18 shares and in multiples of 18 thereafter. Investors are required to make a minimum investment of Rs 14,400 to avail one lot of shares.

ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors and SBI Capital Markets are the book running lead manager to the issue. Shares of NSDL are expected to list on August 6.

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