NSDL files prospectus for smaller IPO

NSDL is reportedly going in for a smaller initial public offering (IPO) of five crore equity shares against the 5.7 crore equity shares it had proposed earlier, according to an addendum to the prospectus filed with the Securities and Exchange Board of India (SEBI) on Monday.

The National Securities and Depositories Limited (NSDL) had filed its draft red herring prospectus (DRHP) in July 2023 for an IPO size of 5.7 crore equity shares.

The IPO would be offer for sale without any fresh issue. HDFC Bank, National Stock Exchange, IDBI Capital, Union Bank of India, State Bank of India, and Administrator of the Specified Undertaking of the Unit Trust of India will be diluting stakes shares in NSDL.

IDBI and NSE own 26.01% and 24% of the shares respectively in NSDL. SEBI regulations prohibit any single entity from owning more than 15% stake in any market infrastructure institution.