NSDL IPO: The market regulator, SEBI (Securities and Exchange Board of India), has suspended the proposed IPO (Initial Public Offering) of National Securities Depository Limited (NSDL) worth 3,000 crore rupees. Our partner news channel, CNBC TV18, reported this information on Thursday. According to the report, SEBI made this decision due to the ongoing investigation against the National Stock Exchange (NSE). On July 7th, NSDL had submitted the draft papers for the IPO to the Securities and Exchange Board of India (SEBI). As per the norms, when SEBI suspends an IPO, it remains in effect for approximately 90 days. It is worth mentioning that NSE is the major shareholder of NSDL.
According to sources in the report, NSDL will write a letter to SEBI requesting to reduce the suspension period to 45 days. The report stated that NSDL’s shareholding in IDBI Bank and NSE exceeds the acceptable limit of 15% in any depository company.
As per NSDL’s draft papers, its IPO will be entirely an offer-for-sale (OFS), wherein around 5.72 crore shares of the existing shareholders will be offered for sale.
Among these shareholders, IDBI Bank will sell 2.22 crore shares, NSE will sell 1.80 crore shares, Union Bank of India will sell 56.25 lakh shares, State Bank of India will sell 40 lakh shares, and HDFC Bank will also sell 40 lakh shares. Additionally, the administrators of the Specified Undertaking of the Unit Trust of India (SUUTI) will also sell 34.15 lakh shares.
As per the draft papers, the company plans to list its shares on the BSE (Bombay Stock Exchange). A portion of the IPO will be reserved for the company’s employees, and they will also receive a discount on the IPO price.
In the financial year 2023, NSDL’s revenue was 1,099.81 crore rupees, and its net profit was 234.81 crore rupees, which was higher than the previous fiscal year.
