(Reuters) -India’s largest depository National Securities Depository Ltd will launch its IPO on July 30, the offer document showed, in what is expected to be one of the biggest public issues in the country this year.
The IPO will close on August 1, the red herring prospectus dated July 23 showed.
Anchor investors can bid for the share sale on July 29.
India’s primary market has picked up after a slow start to 2025. So far in July, 10 companies have listed, while three more IPOs are currently open.
NSDL’s IPO is an offer for sale with shareholders such as IDBI Bank and National Stock Exchange of India paring their stakes to meet the 15% cap for ownership of the depository, which is a so-called market infrastructure institution.
HDFC Bank and State Bank of India will also sell shares at the IPO. NSDL will not issue any new shares.
IDBI Bank and NSE hold 26.1% and 24% stakes, respectively, in NSDL, while HDFC Bank has a 7.95% stake.
India’s markets regulator mandates that no entity other than a select group of institutional investors can own more than 15% in market infrastructure institutions such as stock exchanges, clearing corporations, and depositories.
NSDL filed its draft papers for the IPO in July 2023, but the regulator paused the process in August, putting the offer on hold. The proposal was eventually cleared in October 2024, paving the way for it to launch the listing. ICICI Securities, Axis Capital, and HSBC, are among the book running managers for NSDL IPO.
(Reporting by Vivek Kumar M; Editing by Mrigank Dhaniwala)
