National Securities Depository (NSDL), the first and largest provider of depositary services in India, is aiming to raise Rs 4,500 crore from its first share sale.
Indian central securities depository National Securities Depository Limited – NSDL has its headquarters in Bombay. Launched in August 1996, it is India’s first nationwide computerized securities depository.
According to The Mint, which quoted two people with knowledge of the situation, NSDL has started talks with investment banks to conduct an initial public offering (IPO).
As of May 31, 2022, the organization was responsible for managing more than 2.76 billion investor accounts with a demat deposit value of Rs. 297.55 billion. Measured by asset value, it holds a market share of more than 89 percent.
After the enactment of the Deposit Act in 1996, the NSDL was formally established. Valued at Rs 16,000-17,000 crore, the company is expected to earn Rs 4,500 crore from the main markets.
According to reports, the largest local and international investment banks are in talks with NDSL. Secondary stock sales, giving current investors an exit, will make up the bulk of the supply.
The National Stock Exchange (NSE) and IDBI Bank each own 24 and 26 percent of the company, respectively. Other major participants are State Bank of India (5%), Union Bank of India (2.8%) and Canara Bank (2.3%).