NSDL's IPO Extension: A Strategic Move for Market Readiness

SEBI has extended the listing deadline for National Securities Depository Ltd (NSDL) shares to July 31, 2025. This allows NSDL to strategically prepare for its IPO, considering favorable market conditions. The IPO involves a complete Offer For Sale by existing shareholders, excluding new proceeds for NSDL.

The Securities and Exchange Board of India (SEBI) has granted an extension for National Securities Depository Ltd (NSDL) to list its shares, now set for July 31, 2025, the depository announced. This decision follows NSDL's request for more time to ready its Initial Public Offering (IPO).

NSDL, which filed draft papers in July 2023, received approval for its IPO in September 2024. The IPO is structured as a complete Offer For Sale (OFS) of over 5.72 crore equity shares by its existing shareholders, including NSE, SBI, and HDFC Bank, meaning NSDL itself won't receive any proceeds.

NSDL's upcoming listing is essential for adhering to SEBI's ownership regulations, which limit any entity from holding more than a 15% stake in a depository. This necessitates a reduction in stakes by principal shareholders IDBI Bank and NSE, who currently exceed these limits.

(With inputs from agencies.)