Mumbai21 minutes ago
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Market regulator Securities Exchange Board of India (SEBI) has approved the IPO of National Securities Depository Limited (NSDL). This initial public offer of the country's largest depository will be completely offer for sale i.e. OFS. According to the Draft Red Herring Prospectus (DRHP), 5.72 crore shares will be sold by 6 existing shareholders of the company.
IDBI Bank will sell 2.22 crore shares, National Stock Exchange (NSE) will sell its share of 1.80 crore shares, Union Bank will sell 56.25 lakh shares, Specified Undertaking of Unit Trust of India (SUUTI) will sell 34.15 lakh shares. Whereas, State Bank of India and HDFC will sell 40-40 lakh shares from their share.
NSDL is the country's largest depository company. There are 2 depository companies in the country NSDL and CDSL. CDSL i.e. Central Depository Services Limited is already listed on the stock exchange. NSDL is the country's largest depository company, which has been preparing for an IPO for a long time.
NSDL was established in 1996. The company had filed DRHP to launch IPO on July 7, 2023, which was postponed by SEBI to August 2023. In fact, if there is any investigation going on against the company or there is a delay in the information sought from other regulatory bodies, then SEBI can stop any IPO.
CDSL shares rose 106.54% in one year CDSL shares have seen a rise of 106.54% in one year. On October 9, 2023, the share price of CDSL was Rs 654.28, which has now increased to Rs 1,351.35. At the same time, the stock has given a positive return of 43.93% in the last 6 months. However, it has seen a decline of 6.06% in the last 5 years.
What is DRHP? DRHPs are documents that contain essential information about the company planning an IPO. It is filed with SEBI.
It provides important information about the company's finances, its promoters, the risks of investing in the company, reasons for raising funds, how the funds will be used, among other things.
