NSDL files DRHP with SEBI for IPO
The National Securities Depository, a market infrastructure organization, has submitted a draft Red Herring prospectus to SEBI to allow existing investors to offload a portion of their stake through an initial public offering. The offer to sell through the IPO includes about Rs. 5.72 crore shares.
stock dump
Among the existing investors, IDBI Bank and NSE are to sell 2.22 crores and 1.80 crores shares respectively; While Union Bank will provide 56.25 lakh. Similarly, State Bank of India and HDFC Bank will offload 40 shares each while the specified underwriter of the Unit Trust of India will sell 34.15 thousand shares of stock.
ICICI Securities, Axis Capital, HSBC Securities and Capital Markets (India), IDBI Capital Markets & Securities, Motilal Oswal Investment Advisors and SBI Capital Markets are the lead bookrunners for this issuance. The ownership shares will be listed after subscription on the Bahrain Stock Exchange.
After the introduction of the Depositary Act in 1996, the NSDL pioneered the dematerialization of securities in India in November 1996.
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As of the end of March, the company is the largest custodian 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. The offer includes reservation of equity shares for subscription by qualified employees.