NSDL IPO: Sebi grants depository extension till July 31 to launch initial public offer

NSDL IPO: Capital markets regulator Securities and Exchange Board of India (SEBI) has granted an extension to National Securities Depository (NSDL) for listing its shares till July 31.

According to a PTI report, this extension comes after the depository sought an extension from SEBI, citing market conditions.

"Sebi, vide its letter dated March 28, 2025, has granted an extension for the listing of shares of NSDL on a recognised stock exchange until July 31, 2025, subject to the conditions," NSDL said in its statement as per the report.

The depository had filed its IPO papers with SEBI in July 2023 and received approval to launch the public offer in September 2024. Earlier, the listing deadline was initially set for April 11, 2025.

NSDL IPO Details

The proposed NSDL IPO will be a complete offer for sale (OFS) with no fresh equity issue component. Via the IPO, the company plans to offload over 5.72 crore equity shares by existing shareholders, including the National Stock Exchange of India (NSE), State Bank of India (SBI), and HDFC Bank.

Since the public issue is entirely an OFS, NSDL will not receive any proceeds from the IPO.

According to the NSDL IPO's DRHP, IDBI Bank is the major shareholder in the depository with around 26.10% stake, followed by NSE with 24% holding. Meanwhile, HDFC Bank and SBI hold 8.95% and 5%, respectively.

However, the DRHP only mentions an Employee Reservation portion, with no details on reservations for other shareholders.

Upon listing, NSDL will become the second listed depository in the Indian stock market after CDSL.

NSDL's Financial Health

In the quarter ended December 2024, NSDL reported a 30% increase in its consolidated net profit to ₹85.8 crore from ₹66.09 crore in the year-ago period, PTI reported.

The depository's total income also saw a 16.2 per cent growth to ₹391.21 crore in the October-December quarter of FY25, up from ₹336.67 crore in the corresponding quarter of the preceding fiscal year.

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