NSDL Plans IPO Launch In July, $400 Million Issue To Mark First Listing By An Indian Depository

Mumbai: National Securities Depository Limited (NSDL) may launch its IPO in July this year. People familiar with the company’s plan said the issue is expected to be worth USD 400 million (approximately Rs 3,421.6 crore). NSDL is preparing to become the first depository to get listed in India. The company had filed for an IPO last year. SEBI approved the IPO application in October 2024. Now, reports say the issue may open next month in July.

NSDL is the largest depository in India in terms of assets under custody. ICICI Securities, Axis Capital, HSBC Holdings, and IDBI Capital are managing the IPO.

According to the company’s earlier statement, the IPO will be an Offer for Sale (OFS). Major investors like IDBI Bank, National Stock Exchange, and State Bank will sell their shares. So, the money raised from this IPO will not go to NSDL.

NSDL’s Managing Director and CEO Vijay Chandok did not comment on the IPO timeline. The company spokesperson also gave no statement on the matter.