NSDL shall open its Bid in relation to its initial public offer of Equity Shares on Wednesday July 30, 2025
FinTech BizNews Service
Mumbai, July 25, 2025: National Securities Depository Limited (“NSDL” or “Company”), shall open its Bid/Offer in relation to its initial public offer of Equity Shares on Wednesday July 30, 2025.
The initial public offering comprises of an offer for sale of up to 50,145,001 Equity Shares by the Selling Shareholders (“Total Offer Size”).
The price band for the Offer is at Rs 760 to Rs 800 per Equity Share. (“The Price Band”).
Bids can be made for a minimum of 18 Equity Shares and in multiples of 18 Equity Shares of face value of Rs2 each thereafter.
One of the largest Depositories in the World
NSDL, one of the largest Depositories in the World, established in August 1996 has established a state-of-the-art infrastructure that handles most of the securities held and settled in dematerialized form in the Indian capital market. Although India had a vibrant capital market which is more than a century old, the paper-based settlement of trades caused substantial problems like bad delivery and delayed transfer of title, etc. The enactment of Depositories Act in August 1996 paved the way for establishment of NSDL.
Using innovative and flexible technology systems, NSDL works to support the investors and brokers in the capital market of the country. NSDL aims at ensuring the safety and soundness of Indian marketplaces by developing settlement solutions that increase efficiency, minimize risk and reduce costs. At NSDL, we play a central role in developing products and services that will continue to nurture the growing needs of the financial services industry. In the depository system, securities are held in depository accounts, which is more or less similar to holding funds in bank accounts. Transfer of ownership of securities is done through simple account transfers. This method does away with all the risks and hassles normally associated with paperwork. Consequently, the cost of transacting in a depository environment is considerably lower as compared to transacting in certificates.
NSDL provides bouquet of services to investors, stock brokers, custodians, issuer companies etc. through its nation wide network of Depository Partners.
The Offer for Sale of up to 50,145,001 Equity Shares comprises up to 22,220,000 Equity Shares by IDBI Bank Limited; up to 18,000,001 Equity Shares by National Stock Exchange of India Limited; up to 5,00,000 Equity Shares by Union Bank of India Limited; up to 4,000,000 Equity Shares by State Bank of India Limited; up to 2,010,000 Equity Shares by HDFC Bank Limited and up to 3,415,000 Equity Shares by Administrator of the Specified Undertaking of the Unit Trust of India. (“Selling Shareholders”).
The Equity Shares are being offered through the Red Herring Prospectus of the Company dated July 23, 2025 filed with the Registrar of Companies, Maharashtra at Mumbai. (“ROC”)
The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on BSE Limited (“BSE”). For the purposes of the Offer, the Designated Stock Exchange shall be BSE.
ICICI Securities Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, IDBI Capital Markets & Securities Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the book running lead managers to the Offer (The “BRLMs”) and HDFC Bank Limited is the marketing book running lead manager (“The M-BRLM”).
The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion”).
One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors (“Anchor Investor Allocation Price”), in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”).
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received from them at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.
Further, not less than 15% of the Net Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors (“Non-Institutional Portion”) (of which one-third shall be available for allocation to Bidders with an application size of more than Rs 0.20 million and up to Rs 1.00 million and two-thirds shall be available for allocation to Bidders with an application size of more than Rs 1.00 million , provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in the other sub-category of Non-Institutional Portion subject to valid Bids being received at or above the Offer Price) and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Investors (“Retail Portion”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.
Further, up to 85,000 Equity Shares of face value of Rs 2 each will be allocated on a proportionate basis to the Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA Accounts (as defined hereinafter), and UPI ID in case of UPI Bidders (as defined hereinafter) using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.
