KuberGrow Team National Securities Depository Ltd (NSDL) is gearing up to launch its highly anticipated ₹3,000 crore IPO by next month, as the clock ticks on regulatory approvals. As a Market Infrastructure Institution (MII), NSDL requires additional approvals beyond the Draft Red Herring Prospectus (DRHP). While the DRHP deadline extends until September, the pressing approval from SEBI is adding urgency to the process. A senior official acknowledged the time crunch, stating, “We are rushing against time and will try our best to launch before the deadline.”
Despite choppy market conditions, the depository giant is pushing ahead, proving that strong offerings can still find demand. When questioned about delays, the official pointed to manpower constraints, emphasizing the sheer volume of work required to get everything in place. NSDL, which handles the majority of India’s dematerialized accounts, remains confident in its IPO launch timeline, though challenges remain.
The IPO will be a complete offer for sale (OFS), with major stakeholders like NSE, State Bank of India (SBI), and HDFC Bank set to offload 5.72 crore shares. This move will allow investors to grab a slice of India’s leading depository services provider. Last week, NSDL reported a 30% surge in net profit for Q3, reaching ₹85.8 crore, up from ₹66.09 crore in the previous year, with total income rising 16.2% to ₹391.21 crore, a strong indicator of its growth trajectory.
With approvals pending and a race against time, all eyes are on NSDL as it inches closer to its much-awaited IPO. If all goes as planned, this could be one of the biggest listings in the financial services sector, setting the stage for an exciting stock market debut.
