Upcoming IPO | NSDL targets ₹3,000-crore IPO launch by next month: Report

Upcoming IPO: Depository firm National Securities Depository Ltd (NSDL) is targeting to launch its much awaited ₹3,000-crore initial public offering (IPO) by next month. A senior NSDL official told news agency PTI on Thursday, February 20, that as a market infrastructure institution (MII), NSDL also needs other approvals apart from the existing draft red herring prospectus (DRHP), the official said, adding that it is this approval which has a looming deadline.

"Our dates are expiring next month. We are rushing against time to get things done fast. We will try (to launch the IPO before that)," the senior official told PTI, replying to a specific query on the timeline for the IPO. The 12-month deadline for the DRHP filed by NSDL expires in September 2025.

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NSDL IPO to launch in March? Here's what officials say

However, it is the MII approval given by capital markets regulator Securities and Exchange Board of India (SEBI) which is prompting the depository handling a bulk of India's dematerialised accounts to expedite the share sales process. Asked if the choppy market conditions are leading to a delay, the official said even in this situation there are some offerings hitting the market.

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Responding to a question on the reasons behind the delay in share sale, the NSDL official pointed towards challenges on the manpower front, saying the amount of work to be done is very large. The leading depository had received a go-ahead from market watchdog SEBI for the IPO in September last year.

According to reports, NSE, State Bank of India (SBI) and HDFC Bank plan to offload 5.72 crore equity shares in the issuance which will be an offer for sale (OFS). Last week, NSDL reported a 30 per cent jump in its December quarter net at ₹85.8 crore, up from ₹66.09 crore in the year-ago period. Its total income had increased 16.2 per cent to ₹391.21 crore in the October-December 2024 period.

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