India’s IPO market has recently slowed, but National Securities Depository Ltd (NSDL) plans to expedite its Rs 3,000 crore IPO, potentially launching as early as next month. This offering will solely consist of an offer for sale (OFS) by six shareholders, including the National Stock Exchange and HDFC Bank. NSDL, which received in-principle approval for the IPO in September 2024, is racing against time to meet regulatory deadlines and finalize clearances. Despite a broader market correction, NSDL’s financials are robust, with a 29.82% profit increase in Q3 FY25. The IPO is highly anticipated by investors.
The offering, which will be entirely an offer for sale (OFS), will involve six shareholders reducing their stakes, including the National Stock Exchange (NSE), IDBI Bank, and HDFC Bank. Currently, NSE owns a 24% stake in NSDL.
Although NSDL obtained in-principle approval for the IPO in September 2024, which remains valid until September 2025, the depository is hurrying to obtain the necessary regulatory clearances. “Our deadlines are approaching next month. We are working against the clock to get everything completed quickly,” an NSDL representative informed PTI.
According to sources at ET NOW, the IPO might be launched by early April, with a listing anticipated within the same month. This initiative comes as NSDL aims to adhere to market regulator SEBI’s ownership requirements, which necessitate diversified shareholding structures for market infrastructure institutions.
Despite the overall market correction dampening primary market activity, NSDL’s financial performance remains robust. The company reported a 29.82% year-on-year increase in consolidated net profit, reaching Rs 85.8 crore in Q3 FY25, while total income rose by 16.2% to Rs 391.21 crore.
NSDL’s IPO is among the most anticipated public issues in India, with investors keenly observing how it manages regulatory hurdles and market circumstances in the weeks ahead. Also read | PDP Shipping IPO subscribed 14% on Day 1: Check GMP, price band and other details(Disclaimer: Recommendations, suggestions, views, and opinions presented by the experts are their own and do not reflect the views of the Economic Times)