NSDL IPO: Dates announced for Rs 4,000 crore issue, NSE to sell 1.8 crore shares

The much-awaited Rs 4,000 crore initial public offering (IPO) of National Securities Depository (NSDL) is all set to be open for public subscription from July 30 after the company got an extension from the markets regulator Sebi to list on stock exchanges by August 14.

Following the nod, NSDL has filed red herring prospectus (RHP) with the regulator for the IPO, which would be an entirely offer for sale (OFS) of up to 5.01 crore shares of the company by selling shareholders - IDBI Bank, NSE and Union Bank of India, SBI, HDFC Bank and Specified Undertaking of the Unit Trust of India (SUUTI)

The company is said to be aiming for a valuation of Rs 16,000 crore in the IPO, where existing shareholders can offload around Rs 4,000 crore worth of shares.


IDBI Bank is selling about 2.22 crore shares, NSE is selling 1.8 crore shares, while Union Bank is offloading 5 lakh shares in the IPO.

NSDL IPO dates

NSDL IPO will open for public subscription on July 30 and close on August 1. Anchor investors can bid for the IPO on July 29.

The depository was scheduled to open its IPO before July 31, as regulations require companies to complete the process within one year of receiving IPO approval. The issue was, however, delayed due to lengthy negotiations over the company's IPO valuation, prompting it to seek Sebi's approval to delay the launch of the IPO, ET reported previously.

NSDL first filed its draft red herring prospectus (DRHP) with Sebi in July 2023 and filed an addendum this May, reducing the issue size from 57.2 million shares to 50.1 million shares.

NSDL IPO price band

In the unlisted market, the shares last traded at Rs 1,025, down from Rs 1,250 a month ago, according to unlistedzone.com. As per IPO Watch, the shares currently command a grey market premium of Rs 154 per share. At this price, the company's price-to-earnings ratio is nearly 60 times, while its larger listed peer CDSL trades at 69 times.

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Despite the broader market correction slowing down primary market activity, NSDL’s financials remain strong. The company posted a 29.82% year-on-year surge in consolidated net profit to Rs 85.8 crore in Q3 FY25, while total income climbed 16.2% to Rs 391.21 crore.

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