NSDL will raise funds all through OFS in order to comply with the SEBI regulations which mandates stake holders not hold more than 15% of the total capital.
| Photo Credit: REUTERS
National Securities and Depositories Ltd. (NSDL) announced its offer for sale of up to ₹4011.6 crore after almost five months of delay due to compliance with the observations made by the capital market regulator.
NSDL will raise funds all through OFS in order to comply with the SEBI regulations which mandates stake holders not hold more than 15% of the total capital. There is no fresh issue. The IPO is priced at ₹760 to ₹800 a share and allotted in lots of 18 and multiples thereof. The total valuation of the company was ₹16,000 crore. IDBI Bank, NSE, Union Bank of India, State Bank of India, HDFC Bank and Administrator of the Specified Undertaking of the Unit Trust of India are the diluting shareholders of the company.
Originally, the company had floated its prospectus in 2023 for an IPO size of 5.7 crore shares. Later, after observations and deliberations with the capital market watchdog, NSDL refiled its IPO documents with restated financial statements, risk factors among others, in May 2025, after it received SEBI’s node in October 2024. The addendum to the DRHP was for a lesser size of a little more than 5 crore shares, which is now the size.
Among a host of business risks, NSDL had reported 16 technical glitches in 2025 alone, in its DRHP and SEBI had taken note of it. The financial disincentives were however paid by the company, it said in its prospectus. “If we are unable to efficiently and effectively maintain and upgrade our system safeguards and security features, both at the primary and the disaster recovery site, we may incur unexpected costs and liabilities; and certain of our systems may become more vulnerable to unauthorised access and/or misuse of our systems,” the company said in its prospectus.
“These are areas that happen as a part of routine operations of depository, and they are attended to in a matter of minutes” Vijay Chandok, MD , NSDL told the media answering queries and assured that some of these had happened outside trading. He also reiterated that NSDL was making significant investments to increase technological innovations.
The IPO opens on July 30 and closes on August 1.
Published – July 25, 2025 09:38 pm IST