NSDL gets another extension to list its IPO

NSDL gets another extension to list its IPO.

Expert Analysis :

• SEBI Approval Extension: SEBI has extended NSDL’s IPO listing deadline to August 14, 2025, from the earlier July 31, 2025.

• Extension Granted by SEBI: SEBI, via letter no. SEBI/HO/MRD/RAC2/P/OW/2025/19437/1 dated July 21, 2025, has granted NSDL an extension for in-principle approval to list its equity shares.

• New Deadline and Conditions: The listing approval is valid till August 14, 2025, subject to compliance with conditions outlined in SEBI’s letter dated March 28, 2025.

• Repeated Delays in Listing: NSDL received an extension in April and again till July 31 but failed to complete the listing process; valuation issues are cited by market sources as a possible cause of the delay..

• Stakeholding Details: IDBI and NSE hold 26.01 percent and 24 percent stakes respectively in NSDL, breaching SEBI’s 15 percent ownership cap for market infrastructure institutions.

• Market Leadership: As of December 31, 2024, NSDL is the country’s largest depository by number of issuers, active instruments, demat market share, settlement volume, and assets under custody.

• Subsidiary Development: NSDL’s subsidiary, NSDL Payment Bank, has recently been granted scheduled commercial bank status by the Reserve Bank of India.